Matrix gets USD 92m in tax equity financing for Gaskell solar project

• Matrix Renewables, the TPG Rise-backed renewable energy platform, has agreed USD 92 million (EUR 87m) in tax equity financing from an affiliate of Bank of America NA for its Gaskell West 2 as well as Gaskell West 3 solar projects in California.

Both systems envisage the installment of 143 MW of straight current (DC) solar energy producing capacity in Kern County in addition to 80 MWh of energy storage space. Together, they have five lasting power purchase agreements (PPAs) in place with energies as well as cities in California.

The Gaskell plants are currently incomplete as well as are anticipated to get to commercial procedure in late 2022.

This is the very first US tax equity commitment secured by the business, according to the managing supervisor as well as head people for Matrix Renewables, Cindy Tindell. The renewables platform's current portfolio includes 2.3 GW of functional, incomplete, or near shovel-ready solar photovoltaic or pv (PV) and storage space projects. It likewise has a 3-GW pipe.