Terra-Gen closes financing for Lockhart III & IV solar project in US

US renewable vigor shaper Terra-Gen has closed task financing for the Lockhart III & IV star improvement successful San Bernardino County successful the US authorities of California.

The project’s full financing bundle amounts to $383.3m, comprising a $236.1m taxation equity span loan, a $107.5m operation and word loan, and $39.7m successful unfunded facilities.

A consortium of 4 commercialized banks, some US-based and global, volition supply the backing for the project.

These comprise Crédit Agricole Corporate and Investment Bank, NORD/LB, ING, and US Bank, via its subsidiary US Bancorp Impact Finance.

The Lockhart III & IV task is designed to proviso 205MW AC of cleanable vigor to the section grid, contributing to the US state’s greenish vigor objectives and increasing energy needs.

Upon completion, the installation is anticipated to make energy capable to powerfulness astir 94,000 households each year.

Construction began earlier successful 2025, with commercialized operations scheduled for 2026.

Cupertino Electric is liable for engineering, procurement, and operation (EPC) portion EPC Services is gathering the high-voltage facilities, and First Solar volition supply the star modules.

The task volition beryllium situated adjacent to erstwhile Lockhart photovoltaic phases and partially occupies the tract of the company’s erstwhile SEGS IX star thermal facility, which was decommissioned past year.

Terra-Gen said that the installation volition nexus to the grid utilizing the existing transmission enactment to the Kramer Junction substation.

Terra-Gen CEO John O’Connor said: “The financing of our Lockhart task marks different important milestone successful advancing our renewable vigor portfolio and strengthening our presumption successful 1 of the astir dynamic renewable vigor markets successful the country.

“We are arrogant to proceed investing successful projects that present reliable, sustainable powerfulness and bring caller occupation opportunities that powerfulness communities and thrust economical maturation crossed the state.”

The Lockhart analyzable includes the 85MW Lockhart I project, 75MW Lockhart II, a 45MW four-hour standalone artillery retention project, and 129MW of co-located four-hour retention being developed currently.

The company’s gross operating portfolio is said to see 3.9GW of solar, wind, and artillery retention projects, with 5.1GWh of vigor retention capableness crossed 30 renewable vigor sites, chiefly successful Texas and California.

Terra-Gen is jointly owned by Igneo Infrastructure Partners and the United Erab Emirate's Masdar.

"Terra-Gen closes financing for Lockhart III & IV star task successful US" was primitively created and published by Power Technology, a GlobalData owned brand.