Renewable Properties Powers Up 17 MW Solar in California

• Renewable Properties powers up California with 17 MWdc solar projects, backed by $35.8M in loans, energizing homes and businesses by 2025.

Renewable Properties has commenced construction on 17 MWdc of solar projects in California, supported by $35.8 million in loans from Optus Bank, Pathward, and BridgePeak Energy Capital. The projects include the Althea Phase I and II solar plants in Fresno County, backed by a $19.5 million loan, expected to be completed by Q4. Althea 1, at 6.4 MWdc, will supply power to 1,311 homes under PG&E’s DAC green tariff, while the 5-MWdc Althea 2 will operate under PG&E’s Solar Choice program.

The 5.6-MWdc Redemeyer PV park in Ukiah, supported by $16.3 million, will supply electricity to Sonoma Clean Power and include a 4-MWdc/16-MWh battery, going online in Q3. Renewable Properties aims to develop 100 MWdc of small-scale solar projects across several states by 2025.

How will Renewable Properties' new solar projects impact California's energy landscape?

• Increase in Renewable Energy Capacity: The new solar projects will add 17 MWdc to California's renewable energy capacity, contributing to the state's goals for clean energy and reducing reliance on fossil fuels.
• Support for Local Economies: The construction and operation of these solar projects will create jobs and stimulate economic growth in the regions where they are located, particularly in Fresno County and Ukiah.
  
• Enhanced Energy Resilience: The inclusion of a 4-MWdc/16-MWh battery at the Redemeyer PV park will enhance grid stability and energy resilience, allowing for better management of energy supply and demand.
• Contribution to Statewide Energy Goals: These projects align with California's ambitious renewable energy targets, helping the state move closer to its goal of 100% clean energy by 2045.
• Community Benefits: By participating in programs like PG&E’s DAC green tariff and Solar Choice, the projects will provide affordable clean energy options to local communities, including disadvantaged areas.
• Reduction in Carbon Emissions: The solar projects will contribute to a reduction in carbon emissions by replacing energy that would otherwise be generated from non-renewable sources.
• Encouragement of Further Investments: Successful implementation of these projects may encourage further investments in renewable energy infrastructure in California and beyond.
• Diversification of Energy Sources: The projects will diversify California's energy mix, reducing vulnerability to energy price fluctuations and supply disruptions.
• Educational Opportunities: The projects may offer educational opportunities for local schools and communities to learn about renewable energy technologies and their benefits.