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Recurrent Energy has secured $513 million in project financing for its 1,200 MWh Papago Storage project located in Maricopa County, Ariz. 

Project construction is slated to commence later this year, with commercial operations expected to begin in 2025. The project holds a 20-year tolling agreement with Arizona Public Service Company.

Following construction, Recurrent Energy will own and operate the project.

“When we began developing Papago Storage in 2016, the Arizona storage market was in its infancy,” says Ismael Guerrero, CEO of Recurrent Energy.

“Today, Arizona is one of the fastest-growing markets for energy storage in the United States, bolstered by the state’s expanding economy and cost-effective renewable energy resources. Today, we are thrilled to see nearly a decade of planning culminate in the financing of what will be the largest energy storage project in Arizona. We appreciate the continued support from our partners Nord/LB and MUFG in our shared mission to advance the clean energy transition.”

MUFG and Nord/LB acted as coordinating lead arrangers for the project financing. Joint lead arrangers for the transaction included Bank of America, CoBank, DNB, Rabobank, Siemens and Zions.

The post Recurrent Energy Closes Financing for 1,200 MWh Arizona Storage Project appeared first on Solar Industry.

Recurrent Energy Closes Financing for 1,200 MWh Arizona Storage Project

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Renewable Energy

Myth Busting in Renewable Energy

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I met a guy earlier today who told me that wind and solar are controversial, and that some people say that the mining and manufacturing of wind turbines requires more fossil fuels that the turbines themselves produce.

I told him that I’m aware of such people; they’re called “professional liars.”

I explained the concept of EROI, energy return on investment, and surprised him by saying that the EROI of wind is somewhere between 18 and 30, meaning that each wind turbine you see as you drive along the freeway will generate at least 18 times as much energy as was required in its mining, fabrication, installation, maintenance, and decommissioning–all the way up to 30 times that amount.

The generation of disinformation of renewables has become a cottage industry.  People are paid to make up and publish complete bullshit, so as to discredit the burgeoning clean energy industry, and keep Big Oil in place.

Myth Busting in Renewable Energy

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Renewable Energy

Thanking God for Trump

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As bad as things are in the United States, they could always get worse.

Trump could succeed in his quest to be a dictator, Christianity could be taught in schools, and unvaccinated adults and their kids could trigger another epidemic.

In terms of our reputation on the world stage, however, things really can’t get must worse; the countries around the globe already regard us with a mixture of hate and derision.

Yet regardless of what the future holds, there will always be idiots who that believe that Trump is our savior, like the author of the meme above.

Thanking God for Trump

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Renewable Energy

Eastman Disbarred

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Good to see John Eastman disbarred in California; it’s a small measure of justice.

Criminal prosecution in the future?

Eastman Disbarred

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