Arevon Energy Inc. has closed financing on the Vikings solar-plus-storage project with a combination of debt financing and tax credit transfer.
Arevon secured a commitment with J.P. Morgan to purchase $191 million of investment tax credits and production tax credits, among the nation’s first transactions announced to date that leverage the Inflation Reduction Act’s transferability provision.
The additional $338 million debt facility was financed with MUFG, BNP Paribas, Sumitomo Mitsui Banking Corp., and First Citizens Bank, who acted as coordinating lead arrangers. National Bank of Canada also participated as a lender. Stoel Rives represented Arevon as legal counsel; Milbank LLP served as transfer counsel; and Winston & Strawn LLP served as lender counsel.
“Vikings has been a landmark project from its inception. It is one of the nation’s first solar peaker plants, and today it is one of the first utility-scale solar-plus-storage ITC and PTC transferability transactions to close since the Inflation Reduction Act passed in August 2022,” says Kevin Smith, Arevon’s CEO.
Located in Imperial County, Calif., the Vikings power plant features a unique configuration of 157 MW DC of solar coupled with 150 MW/600 MWh of battery energy storage. Vikings is contracted to provide resource adequacy and renewable energy to San Diego Community Power, helping to support grid reliability beginning next year.
The project showcases key U.S. manufacturers, with PV module supply from Arizona-based First Solar, along with solar trackers from Nextracker, whose headquarters are in Fremont, Calif. Tesla is supplying the facility’s utility-scale batteries, which allow the solar energy generated to be directed to the grid during peak demand.
Construction of the facility is well underway, with commercial operations scheduled for the third quarter of 2024. San Diego-headquartered SOLV Energy is performing the construction activities.
The post Vikings Solar-Plus-Storage Development Nets Financing appeared first on Solar Industry.
Renewable Energy
The SAVE Act
It appears that there are a few Republicans who understand the SAVE Act is simply an exercise in voter suppression and thus an attempt to overturn American democracy.
We need to accept any little bit of good news where we can find it.
Renewable Energy
What We Want from the State
What we see at left is a a perfect example of a “straw man” argument, i.e., one that deliberately twists one side of the debate. If you asked to guess as to the percentage of Americans who want to give up free enterprise and hand over the “means of production” to the government, I’d say it could be 1/100th of a percent.
Practically nobody wants “everything from the state.” What most of us want, in addition to the many dozens of other things that the U.S. federal, state, and local governments provide us is Medicare for all and subsided education, which is the form of government in the countries that consistently come in at the top of the World Happiness Rankings.
Renewable Energy
Preferences for Musical Genres and Political Demographics
The following is simply raw speculation on my part. I’ll be interested in your comments.
There are musical styles that align themselves with left- and right-wing politics, though none of these, with the possible exception of one, has 100% of its audience–more on this below.
Here are a few musical genres, where they seem to be pro- or anti-Trump. and why:
Classical. Largely but not exclusively anti-Trump. Classical appeals to the mind and the emotions that surround the perception of beauty, and people who are strong in these areas are generally anti-Trump. There are exceptions, in that there are plenty of billionaires and weirdo intellectuals, e.g., the “objectivists” of Ayn Rand fame many of whom adore classical music.
Country. Pro-Trump. Most of it appeals to people whose most nuanced thinking concerns getting drunk and laid in the back of their pick-up truck.
HipHop: Pro-Trump. The opposite of classical, this is music that appeals to the genitalia as opposed to the mind.
Rock. Mixed bag. Heavy metal probably favors Trump; fans of prog-rock bands like Yes and Pink Floyd have too much going on in their minds and hearts to be Trump supporters.
Folk: Mostly anti-Trump. Pete Seeger and Bob Dylan fans aren’t big on stupidity and fascism. I’m sure there are exceptions.
Reggae: Distinctly anti-Trump. Black folks’ songs of love, peace, weed, and escape from slavery aren’t going to resonate with the hate of the White supremacists.
The Grateful Dead. I’ll leave you with this. If you can find me a single Dead Head Trumper, I’ll be astounded. Now, I know that essentially no one sits on the fence about the Dead; they have their detractors. But there is essentially zero intersection of Dead Heads and those who favor war, corruption, hate, greed, and ignorance.
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