Silverado Power and Martifer Solar have made a US$50 million interconnection security investment in order to maintain a good position in California’s interconnection generator queue.
The interconnection generator queue is part of the California Independent System Operator (CAISO) and the investments are used to upgrade infrastructure and grids. Developers with larger and more viable projects in the queue provide the funding.
“These investments demonstrate Silverado’s commitment to the bringing our renewable energy projects on-line. We are serious about expanding our place in the California energy market and are excited about the competitive projects we have moving forward,” commented Silverado Power’s chief operating officer, Hans Isern. “These investments support the development of Silverado’s high quality projects that have power purchase agreements with utilities, and have strong community and political support. They demonstrate the growing strength of Silverado’s 2.8 gigawatt project portfolio.”