The developer broke ground on the Oberon project in June. Source: 174 Power Global
174 Power Global has wrapped up construction financing for the US$210 million, 150MW first phase of its solar farm in Ector County, northwest Texas, clinching funding from a group of global banks.
France’s Credit Agricole Corporate and Investment Bank and South Korea's Korea Development Bank are supplying construction and term debt for the Oberon solar project. J. P. Morgan Chase is providing an eight-year solar hedge in exchange for a share of the project’s output, while an unnamed investor is providing tax equity for the first phase.
The developer, which is the US solar arm of South Korean conglomerate Hanwha Group, broke ground on the project in June. It expects phase one of the project to be complete by the spring of 2020.
The facility will be equipped with more than 560,000 Q CELL modules made by its parent company.
174 Power Global switched on its 182MW Midway solar project, also in Texas, in December 2018. It also owns the operational 100MW Laguna solar site in northern Mexico and is currently building a 300MW project in Boulder City contracted to supply power to both of Nevada’s operating companies.
The Solar Energy Industries Association estimates that 4GW of capacity will be installed in the sun-drenched state over the next five years, making it the third fastest growing market in the US.
It currently ranks sixth in overall solar capacity, a drop from second place in 2018 that the SEIA attributes to “environmental regulations and various market pressures”, forcing a significant amount of generation out of the market.
US solar prospects amid PPA uptake and a changing policy landscape will take centre stage at Solar Media's Solar & Storage Finance USA, to be held in New York on 29-30 October 2019
The USA solar pipeline hit 9.8 GW in August 2019, according to market analysts, Wood Mackenzie so what does this mean for the solar sector moving forward? Are module shipments constrained? Have manufacturers raised prices for late-comers? What impact will this have on 2020 projects and what can we expect for the ITC negotiations? These questions and more will be discussed in this informative, free webinar. - With almost 10 GW of solar pipeline, how is this affecting the supply chain and cost for panels? - How likely is it that the ITC will be renewed, what trends are emerging in terms of beating the step down? - How helpful are emerging trends and technologies (e.g. bifacial panels, floating solar, data aggregation and management) in helping to beat the ITC step down? - Trade wars: what impact did section 201 have on the market, and what could we expect moving forward This webinar acts as a primer for the Solar & Storage Finance Summit which takes place on 29 & 30 October in New York City.
Now in its sixth successful year, Solar & Storage Finance USA is the only event which looks at raising capital for solar, storage and collocated solar and storage projects in the USA. The conference will help delegates understand how providers are evolving propositions for storage and how they can access capital for standalone solar or storage, and co-located projects. Meet debt providers, funders, utilities, corporate off takers and blue chip energy firms with capital to invest and developers with credible pipelines.