Enlight Renewable Energy, an independent power producer (IPP), has completed debt financing to the tune of $773 million for its Country Acres solar-plus-storage project.
Located near Sacramento, California, Country Acres will host 403MW of solar PV and 688 MWh of energy storage capacity. It is scheduled to become operational in the second half of 2026; construction has already begun.
The company secured construction financing commitments through its subsidiary, Clēnera Holdings; once the project becomes operational, the loan is expected to convert into a $376 million term loan.
According to Energy Storage News, the project has a 30-year solar generation busbar power purchase agreement (PPA) and a 20-year energy storage busbar PPA with the Sacramento Municipal Utility District (SMUD).
SMUD anticipates the construction of the project to contribute over $41 million to the local economy and create over 360 jobs during development, as well as around 40 local jobs annually.
The utility set a goal of eliminating 100% of its greenhouse gas emissions from its electric generation by 2030. In its 2023 Zero Carbon Plan progress report, SMUD noted it had added 1,000MW of clean energy to its power supply over the last 12 years, with the majority coming from solar PV and wind.
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