Independent power producer (IPP) Enlight Renewable Energy has closed financing for the battery energy storage system (BESS) portion of its 364MW/1.2GWh Atrisco solar-plus-storage project in New Mexico, US.

The project, located near Albuquerque, will cost US$827 million to build; US$458 million for the BESS and US$369 million for the solar.

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The 1,700-acre project is already in the commissioning phase and will reach a full commercial operation later this year. It was developed by developer RES and the BESS is being provided by Tesla, and has a 20-year public power agreement (PPA) with utility Public Service Company of New Mexico.

Enlight has secured US$290 million in term debt, US$420 million in tax equity and will invest the remaining US$117 million itself as sponsor equity for the whole project. The financing for the solar portion had already been secured in December 2023 and the storage financing has now also been completed.

The full version of this story can be read on our sister site, Energy-storage.news.

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