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
Sadly, a significant number of U.S. voters believe what House Speaker Mike Johnson says here, i.e., that “God isn’t finished with America yet,” and that “We need people (from the Republican party) of character and integrity,” as if there are any.
But what is that number, roughly?
After living through the first 18 month of Trump’s second term, with all the lies, the incompetence, and the corruption, this number has dwindled to a point that the Republicans are bracing themselves for the worst.
Republicans Manipulate American’s Ignorance — and it Doesn’t Take Too Much Skill
I’m sure some of these excuses are extremely common in the minds of those making huge profits by destroying our planet.
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