Major US bank Wells Fargo has closed its maiden tax equity investment into a colocated solar-storage project currently under construction in New Mexico, US.
The Arroyo Solar and Storage project is to combine 300MWac of solar with a 150MW / 600MWh battery energy storage system and is being developed by DE Shaw Renewable Investments (DESRI).
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
The project is itself part of a plan from local utility Public Service Company of New Mexico to procure nearly 1GW of solar and energy storage projects to replace the San Juan Generating Station, a coal-fired power plant that is set for closure.
DESRI acquired the project from its original developer, Centaurus Renewable Energy, prior to closing debt financing.
The 300MWac solar PV plant will be constructed by Sundt Construction. The array will use NEXTracker’s tracking systems, while the BESS will comprise Tesla Megapacks, which the Silicon Valley (possibly soon to be Texas) tech company is commissioning as well as supplying. Local company Affordable Solar Installation will construct the BESS.
For more on this story, visit sister publication Energy-Storage.news.
