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.
If the situation in the United States weren’t so tragic, this meme would be funny.
The Republicans are banking on the fact that American voters are so stupid that they don’t know that it was the Trump administration that created the affordability issues. Gas prices around here are currently almost exactly $2.00 more than they were when Trump started this pointless and illegal war in Iran.
Does what Hannah Arendt said at left apply to Donald Trump today?
Not sure. I’m fairly certain that, for instance, Trump wants as many morons as possible to believe that the 2020 election was rigged.
However, the bulk of what she said is absolutely true. Trump most certainly wants to deprive people of the capacity to think and judge.
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ACORE to Ring Opening Bell at New York Stock Exchange to Celebrate 25 Years
Washington, D.C. – ACORE will ring the opening bell at the New York Stock Exchange on Wednesday, July 29 at 9:30 a.m. ET to celebrate its 25th anniversary of powering investment in American clean energy.
For 25 years, ACORE has been working across the entire clean energy business process, uniting technology, policy, and finance to accelerate America’s transition to a clean energy economy.
ACORE’s President and CEO Ray Long will ring the bell alongside members of the ACORE Board.
If you are interested in a conversation with ACORE CEO Ray Long, please let us know at communications@acore.org.
When: Wednesday, July 29 at 9:30 a.m. ET
Where: New York Stock Exchange, 11 Wall Street, New York, NY. Media wishing to attend in person should RSVP to Chris Higginbotham beforehand. The ceremony will also be livestreamed at https://www.nyse.com/bell.
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About ACORE:
ACORE is a nonpartisan nonprofit organization that operates at the intersection of affordability, reliability, and clean energy deployment. Our work is focused on stabilizing energy prices, strengthening the electric grid, and driving investment in cost-effective technologies to ensure that clean energy delivers for people, businesses, and the U.S. economy.
ACORE’s membership includes clean energy investors, developers, energy buyers, power generators, manufacturers, and energy providers. In 2024, nearly 80% of the booming utility-scale domestic clean energy growth was financed, developed, owned, equipped, or contracted by ACORE members.
Media Contacts:
Chris Higginbotham
higginbotham@acore.org
The post ACORE to Ring Opening Bell at New York Stock Exchange to Celebrate 25 Years appeared first on ACORE.
https://acore.org/news/acore-to-ring-opening-bell-at-new-york-stock-exchange-to-celebrate-25-years/
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