Pacifico Power LLC has partnered with Sumitomo Corp. to finance a portfolio of solar photovoltaic (PV) plus battery energy storage system (BESS) projects.
Pacifico secured $40 million in project tax equity funding from SCOA for a portfolio consisting of six projects totaling 27 MW of solar PV and 25 MWh of battery storage located in California and Massachusetts.
The projects will provide customers with an estimated cost savings of more than $46 million over the course of the portfolio’s useful lifetime, as well as support the ongoing transition to sustainable energy infrastructure.
SCOA will act as a tax equity partner, while Pacifico will remain a sponsor owner and operator of the projects through direct subsidiaries. This will be SCOA’s first investment in distributed generation.
The two projects in Massachusetts, developed under the Solar Massachusetts Renewable Target (SMART) program, are community solar developments wherein over half of the energy produced will be dedicated to serving low-to-moderate income households. Additionally, the portfolio includes four behind-the-meter projects in California that are designed to support C&I customers by integrating renewable energy into corporate sustainability strategies, while also reducing energy costs and enhancing reliability.
The projects were developed and constructed by Pacifico Power, with commercial operation expected by year-end 2024.
“We’re pleased to announce Pacifico’s latest financing partnerships with Sumitomo and MUFG as we continue to accelerate deployment of clean energy infrastructure nationwide,” states Kevin Pratt, president of Pacifico Power. “As one of the first participants to close a transferability bridge loan under the IRA and a tax equity vehicle of this nature, we’re excited to build on the momentum that Pacifico is experiencing within clean energy.”
The post Pacifico Power Nets Financing for Solar+Storage Assets appeared first on Solar Industry.
As we’ve noted in the past, the idea of capturing CO2 from the atmosphere is completely unfeasible, since 99.96% of the air around is something other than CO2 (mostly nitrogen). However, there are environments that change this equation radically, cement plants being one of them, where the concentration of CO2 emissions is as high as 30% (versus .04%).
Now, this brings the subject of synthetic fuels into the realm of possibility. Sure, if you want to make gasoline, diesel, and jet fuel, you’ll need two other things: hydrogen (which can come from electrolyzing water), and a considerable amount of energy, as these processes are heavily endothermic, meaning that energy must be supplied from external sources.
The good news is that we have enormous amounts of off-peak wind and nuclear that are wasted every day. Please see: Doty WindFuels.
With each passing day, there are fewer and fewer American voters who believe the bullshit at left.
Is Trump working hard to stay out of prison? Enrich himself and his family? Of course.
Could be possibly care less about anything else? Obviously not.
What’s the thought process of people in the rest of the developed world when it comes to visiting the U.S.?
Conversely, would you or I want to visit some country with a deeply corrupt regime that is systematically committing atrocities all around the globe, and whose leader is lining his pockets?
I’m glad I don’t own a resort in New England that counts on a flow of visitors from Canada. If I were a Canadian, I’d be thinking I’d rather visit hell.
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