Wells Fargo completes financing for Sempra’s 200MW PV project in California

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Sempra Renewables built and operates the Great Valley Solar Project — which was developed over 647 hectares of land and is comprised of 860,000 PV modules.

Wells Fargo Renewable Energy and Environmental Finance has completed the final US$85 million in tax-equity funding for Sempra Renewables’ 200MW PV project near Fresno, California.

This funding stands as the final phase of more than US$190 million in financing for four solar farms collectively known as the Sempra Great Valley Solar Project.

Sempra Renewables built and operates the Great Valley Solar Project — which was developed over 647 hectares of land and is comprised of 860,000 PV modules.

The 200MW project, which began operation in May 2018, will generate enough energy to power approximately 90,000 homes. During the peak construction period, the project created 500 local jobs.

On an annual basis, the project will provide power through four offtaker agreements: 100MW to Marin Clean Energy, 60MW to Sacramento Municipal Utility District (SMUD), 20MW to Pacific Gas & Electric (PG&E) and 20MW to Southern California Edison (SCE).

Barry Neal, co-head of Wells Fargo Renewable Energy and Environmental Finance, said: “The Great Valley Solar Project builds on Wells Fargo’s leadership in clean technology and renewable energy financing. We’re pleased to partner on another successful and environmentally impactful project with Sempra Renewables.”

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