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
It depends on what you believe.
Fox News will tell you that our southern border is no longer being overrun, that we’ve discovered that vaccinations are unsafe, that we’re standing up against Sharia Law, we’re preventing Iran from building a nuclear weapon, prices are coming down (or soon will be), Trump is an honest and effective servant of the American people and that the U.S. is once again respected on the world stage.
We live in a country where tens of millions of idiots believe every word of this.
Weather Guard Lightning Tech
Uptime’s Takeaways from Hamburg 2026
The crew discusses Hamburg takeaways, including the industry mood, bigger blade risks, and OEM announcements.
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!
I met a guy today from a rural part of Central England–“nothing but farms and pubs,” as he put it. His father was an epidemiologist working for the United Nations, and so, as a boy, he lived all over the world and grew up largely in developing countries that suffered from horrific diseases.
He and his wife had the conversation one would expect from such people:
- Why are we so content to ignore climate change that is ruining our planet?
- Why are people so indifferent to the suffering of others?
- How is it possible that billionaires expect to live well here on Earth while 99.9% of us suffering with wildfires, devastating storms, blistering heat, losses of landmasses, and desertification?
- At the end of the day, is money really that precious?
Obviously, not everyone thinks this way, but to be in something of a “lovefest” for just a few minutes was a great relief.
relief.
-
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 Energy11 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