Strata Clean Energy Secures $559 Million Financing for 1GWh Battery Energy Storage Project in Arizona


255MW/1,020MWh Scatter Wash battery storage advanced to be operational by April 2025

Strata Clear Vitality (Strata), a number one developer, proprietor, and operator of renewable power tasks, has closed a $559 million financing for the development and possession of the Scatter Wash battery storage advanced. The 255MW/1,020MWh storage facility broke floor on January 18 and is predicted to be operational by April 2025.

A consortium of main monetary establishments labored collectively to safe the mandatory funding for this challenge. JP Morgan and Nomura are performing as Coordinating Lead Arrangers and Joint Bookrunners. JP Morgan additionally fulfills the roles of Administrative Agent, Depositary Agent, and Collateral Agent. The financing is additional supported by US Bancorp Impression Finance and CoBank as Coordinating Lead Arrangers with The Korea Improvement Financial institution and Norddeutsche Landesbank as Joint Lead Arrangers. As well as, Siemens and Areas contributed as lenders to this transformation challenge, and US Bancorp Impression Finance was additionally the first tax fairness investor.

“The profitable financing for the Scatter Wash battery storage advanced marks a big step ahead in our mission to drive the transition to wash power,” mentioned Markus Wilhelm, Chief Govt Officer of Strata Clear Vitality. “This chance to work with our monetary companions to deliver this vital challenge to fruition will make an enduring, lasting impression in a area combating grid challenges and excessive warmth.”

“JP Morgan is working to offer capital to speed up the expansion of sustainable infrastructure throughout the nation,” mentioned John Beebe, Govt Director, JP Morgan Inexperienced Economic system Banking. “We’re very excited to work with Strata to decarbonize our communities and construct a extra sustainable power future.”

“US Bancorp Impression Finance is happy to broaden an already fruitful relationship with Strata Clear Vitality by deploying debt and tax fairness to fulfill our buyer’s wants for this thrilling challenge,” mentioned Impression Finance Chief Funding and Product Officer Sunil Rajpurohit. “We imagine everybody has a task to play in making a sustainable future and stay up for the potential impression this challenge could have on Arizona.”

The Scatter Wash battery storage advanced will retailer sufficient electrical energy to energy 50,000 Arizona houses throughout peak summer time circumstances for 20 years, reworking grid stability and streamlining -include renewable power sources in Arizona, thus selling financial progress and environmental sustainability. In Might 2023, Strata entered right into a 20-year tolling settlement with Arizona Public Service, strengthening its dedication to this groundbreaking initiative.

About Strata Clear Vitality

Strata Clear Vitality accelerates the clear power transition by offering pioneering tasks with industry-leading high quality. Strata is a vertically built-in Photo voltaic and Storage growth, EPC, and O&M firm. With over 270 photo voltaic and storage tasks accomplished, the corporate has been instrumental within the growth and building of three,000 megawatts (MW) of photo voltaic power and three,200 megawatt hours (MWh) of utility-scale power storage. Strata’s present growth pipeline has 8,400 MW of photo voltaic capability and 31,800 MWh of storage. Strata has workplaces in North Carolina, Arizona, New York, Illinois, and Colorado.



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