Swift Present Power has closed on a tax fairness funding from Google for its 800 MW Double Black Diamond Photo voltaic undertaking in southern Illinois.
As soon as operational, the undertaking is predicted to be the most important photo voltaic undertaking east of the Mississippi River. The tax fairness financing makes use of Power Communities and home content material adders, offered within the Inflation Discount Act.
Situated 30 miles west of Springfield, Unwell., the undertaking is presently below development and is predicted to succeed in business operations subsequent yr.
Mitsubishi UFJ Monetary Group, Societe Generale, Truist and ING offered development financing for the undertaking. Swift Present is the undertaking developer and would be the long-term proprietor and operator.
“Initiatives of Double Black Diamond Photo voltaic’s magnitude require modern partnerships,” says Eric Lammers, CEO and co-founder of Swift Present. “We’re delighted to affix forces with Google on a ground-breaking construction that may help Double Black Diamond Photo voltaic and function a information for different main initiatives to return.”
The corporate chosen McCarthy Constructing Firms, because the undertaking’s development EPC accomplice. The undertaking makes use of First Photo voltaic modules, in addition to photo voltaic trackers from Nextracker.
Constellation NewEnergy will buy a portion of the power and RECs generated by Double Black Diamond Photo voltaic to serve the seven prospects which were introduced. The Metropolis of Chicago will supply renewable power produced by the undertaking to energy a number of energy-intensive services, together with Chicago O’Hare Worldwide Airport and Halfway Worldwide Airport.
Moreover, Prepare dinner County Illinois, CVS Well being, Loyola College of Chicago PPG, State Farm and TransUnion have agreements to buy energy from the undertaking through Constellation.
Vinson & Elkins and Husch Blackwell represented Swift Present within the transaction. Milbank and Bryan Cave Leighton Paisner represented Google.
