Strata Clean Energy has closed on $559 million in financing for the construction and ownership of the Scatter Wash battery storage complex, a 255 MW storage facility that broke ground last month and is expected to be operational by mid-next year.
“The successful financing for the Scatter Wash battery storage complex marks a significant step forward in our mission to drive the transition to clean energy,” says Markus Wilhelm, CEO of Strata Clean Energy. “This opportunity to collaborate with our financing partners to bring this critical project to fruition will create a lasting, sustainable impact on a region that struggles with grid challenges and extreme heat.”
The Scatter Wash complex will store enough electricity to power 50,000 Arizona homes during peak summer conditions for 20 years, adds the company. Last May, Strata signed a 20-year tolling agreement with Arizona Public Service on the project.
J.P. Morgan and Nomura acted as coordinating lead arrangers and joint bookrunners. J.P. Morgan also fulfilled roles as administrative agent, depositary agent and collateral agent. The financing was further supported by U.S. Bancorp Impact Finance and CoBank as coordinating lead arrangers with The Korea Development Bank and Norddeutsche Landesbank as joint lead arrangers. Siemens and Regions contributed as lenders in this transformative project. U.S. Bancorp Impact Finance was also the primary tax equity investor.
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Strata Secures $559 Million Financing for 1 GWh Arizona BESS Project
The United States seems set on propelling itself backwards.
Maybe, as they say, “Hell has a special place reserved in it” for people like Thom Tillis, Republican Senator from North Carolina, who enabled Trump to rape and destroy the United States.
That was until it became clear to Tillis that he could jump ship, write a scathing book about the president, get all over mainstream news promoting it, and go on to enjoy another chapter of political success.
That we Americans are so stupid that we accept this blatant hypocrisy and criminality is sad proof that we’re not the people we were 20 years ago. Maybe what many people are saying are correct: we deserved what we got.
Here’s a short video from Elle Cordova that reminds us that science is something of a rarity in human history.
The great tyrants of history have done their best to cause the people they ruled to reject science, simply to ensure the masses are ignorant, terrified, superstitious, and thus easily controlled.
The current political administration is particularly engrossed in the rejection of science. I wonder why.
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