Capital Dynamics bags tax equity for 60 MW/240 MWh California Flats battery
- Asset supervisor Capital Dynamics last week said it has actually completed tax equity financing for a 60 MW/240 MWh battery storage project at the website of the 280-MW California Flats solar facility.
The tax equity investments, safeguarded with Capital Dynamics' Clean Energy Infrastructure (CEI) organization, were supplied from Goldman Sachs and US Bank. Amis, Patel & Brewer, LLP worked as Capital Dynamics' lawful expert in the funding bargain.
The California Flats battery energy storage system (BESS) is being mounted within the California Flats solar (PV) park in San Luis Obispo and Monterey areas, which was appointed in 2019. The building and construction procedure is looked after by Arevon, a Capital Dynamics affiliate, which will certainly also run the center once it is switched on later this year.
In April this year, modern technology business Apple Inc said it is building the California Flats BESS beside the namesake solar farm. To be outfitted with 85 lithium-ion megapack batteries by Tesla, the facility will be hooked to the 130-MW portion of California Flats that Apple has actually contracted under a power purchase arrangement (PPA) for its procedures.
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