Ørsted has received an investment from J.P. Morgan for $680 million in tax equity financing for a portfolio of solar and storage assets in Texas and Arizona.
The project portfolio consists of Eleven Mile Solar Center, a 300 MW solar and 300 MW storage project in Pinal County, Ariz. and Sparta Solar, a 250 MW solar project in Mineral, Texas.
Eleven Mile will receive a one-time investment tax credit for its BESS while the solar farm will generate production tax credits over a ten-year period.
The tax equity partnership with J.P. Morgan includes the option for tax credit transferability.
“Ørsted is an experienced developer and operator of renewable energy projects in the U.S., including offshore and onshore wind, solar and battery storage, all of which will generate tax credits valuable to investors,” says James Giamarino, CCO for the Americas at Ørsted.
“With this new market unlocked by the IRA, we’re excited to continue our tax equity partnership with J.P. Morgan and bring on new entities looking to advance the U.S. renewable energy industry, support job growth and promote local economic development.”
The tax equity investment will help fund the completion of both projects, which are expected to commence commercial operations this year.
Latham & Watkins served as legal counsel for Ørsted. Milbank served as legal counsel for J.P. Morgan.
The post Orsted Receives Financing from J.P. Morgan for Solar + Storage appeared first on Solar Industry.
Orsted Receives Financing from J.P. Morgan for Solar + Storage
I suppose there are people who believe that the radical left is on a path to make Christianity illegal, and perhaps to install Islam as the official religion of the United States. This is remarkable for two reasons:
a) Every schoolchild in America learns about the First Amendment’s guarantee of freedom of religion at a very young age, and
b) This country made it successfully though 250 years with no one being ignorant enough to bring up this ridiculous concern.
One would hope that this figure of near 60% would indirectly translate into Trump’s ouster before he can take full control of the U.S. government.
We vote Trump’s stooges out of office in November and replace them people of honor. Trump is impeached, convicted and removed. From there, justice takes its course.
Nordex Q3 Orders Jump 30%, Vestas Bets on Australia
Nordex Q3 orders jump 30% and Vestas lands about a gigawatt in Australia. Plus why turbine factories skip Australia, high project costs, and whether batteries can replace coal.
The Uptime Wind Energy Podcast is brought to you by Weather Guard Lightning Tech, creators of the StrikeTape Ultra LPS retrofit. Subscribe to Uptime’s Substack newsletter. And check out Rosemary’s “Engineering with Rosie” Youtube channel. Have a question we can answer on the show? Email us!
-
Climate Change1 year ago
Guest post: Why China is still building new coal – and when it might stop
-
Greenhouse Gases2 years ago嘉宾来稿：满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Greenhouse Gases1 year ago
Guest post: Why China is still building new coal – and when it might stop
-
Climate Change2 years ago嘉宾来稿：满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Renewable Energy12 months agoSending Progressive Philanthropist George Soros to Prison?
-
Climate Change2 years ago
Bill Discounting Climate Change in Florida’s Energy Policy Awaits DeSantis’ Approval
-
Greenhouse Gases1 year ago
嘉宾来稿：探究火山喷发如何影响气候预测
-
Climate Change2 years agoAnalysis: China’s CO2 falls 1% in Q2 2024 in first quarterly drop since Covid-19