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.
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Recurrent Energy Closes Financing for 1,200 MWh Arizona Storage Project
Renewable Energy
Democracy v. Constitutional Republic
I wish I had $100 for every time I heard some uneducated Trump supporter tell me this.
A democracy is a system where governmental power is derived directly from the will of the majority. A constitutional republic is a specific type of representative democracy where the people elect officials to govern, but those officials are strictly limited by a supreme, written constitution designed to protect minority rights from majority rule.
I remember a conservative friend who lived in Hawaii who complained that the native people objected to a project directed from Washington to build something at the top of one of their volcanoes, on the basis that this was their holy land. My friend asked, “Doesn’t the majority rule?”
“Not necessarily.” Trying to make my point in the simplest way possible, I explained, “People have rights. My neighbors like me, but imagine that they didn’t, and 20 of them, a 20:1 majority, wanted to come in here and beat me to death. I have a right not to murdered. When you think about it, we’re lucky not to live in a country where ‘the majority rules.’”
“Oh. I guess you’re right,” my friend said.
Renewable Energy
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My biggest beef with Trump isn’t the many individual points of failure, but the fact that they are all the product of the mind of a criminal sociopath whose only way of thinking is self-enrichment, normally at the expense of anyone who cannot serve to make him richer and more powerful.
Renewable Energy
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Neil DeGrasse Tyson says that our problem isn’t that our children don’t understand science, but that our adults don’t.
Three comments:
1) Wind is not a finite resource as long as the sun comes up every morning and disproportionately heats the Earth’s surface. 8th grade Earth science.
2) Wind doesn’t cool anything except the skins of certain animals that perspire. 9th grade biology.
3) Putting one’s ignorance of public display is not a strong idea, even in rural Texas.
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