{"id":246,"date":"2022-09-15T12:00:00","date_gmt":"2022-09-15T12:00:00","guid":{"rendered":"https:\/\/mojave.gold\/terra-gen\/?p=246"},"modified":"2023-06-06T19:00:51","modified_gmt":"2023-06-06T19:00:51","slug":"news-release-1","status":"publish","type":"post","link":"https:\/\/mojave.gold\/terra-gen\/news-release-1\/","title":{"rendered":"Terra-Gen Closes Financing for Second Phase of Edwards Sanborn Solar Storage Franchise in California"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"246\" class=\"elementor elementor-246\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b97cacf elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"b97cacf\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b8b3fd7\" data-id=\"b8b3fd7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7d0d136 elementor-widget__width-inherit elementor-widget elementor-widget-heading\" data-id=\"7d0d136\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.2 - 23-04-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Terra-Gen Closes Financing For Second Phase of Edwards Sanborn Solar Storage Franchise in California<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4d7f6d7 elementor-reverse-tablet elementor-reverse-mobile elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"4d7f6d7\" data-element_type=\"section\" data-settings=\"{&quot;shape_divider_top_negative&quot;:&quot;yes&quot;,&quot;shape_divider_top&quot;:&quot;curve-asymmetrical&quot;,&quot;background_background&quot;:&quot;slideshow&quot;,&quot;shape_divider_bottom&quot;:&quot;curve-asymmetrical&quot;,&quot;shape_divider_bottom_negative&quot;:&quot;yes&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t<div class=\"elementor-shape elementor-shape-top\" data-negative=\"true\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" d=\"M615.2,96.7C240.2,97.8,0,18.9,0,0v100h1000V0C1000,19.2,989.8,96,615.2,96.7z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t<div class=\"elementor-shape elementor-shape-bottom\" data-negative=\"true\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" d=\"M615.2,96.7C240.2,97.8,0,18.9,0,0v100h1000V0C1000,19.2,989.8,96,615.2,96.7z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e99fd9d\" data-id=\"e99fd9d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9a42262 elementor-widget__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"9a42262\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.2 - 23-04-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Terra-Gen, LLC, a leading independent renewable energy provider, has completed financing on the second phase of its Edwards Sanborn Solar Storage facility in Kern County, Calif., a project that will produce clean energy for more than 164,000 homes and displace more than 320,000 tons of CO2 annually. This phase of the Edwards Sanborn Solar Storage facility is composed of 410 MWac of (megawatts, alternating current) of nameplate solar capacity (358 MWac at the point of interconnection) and 1,786 MWh (megawatt hours) of battery storage. The first phase of the Edwards Sanborn project was financed in July 2021 and its 345 MW of PV and 1,505 MWh of storage are now fully operational.<\/p><p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-6591 alignright\" src=\"https:\/\/mojave.gold\/terra-gen\/wp-content\/uploads\/2023\/01\/EdSanFinal.png\" alt=\"\" width=\"568\" height=\"425\" \/>The financing for the second phase includes $959 million senior secured credit facilities comprising a $460 million construction and term loan facility, a $403 million tax equity bridge facility, and a $96 million construction and revolving letter of credit facility. U.S. Bank is providing the tax equity commitment for the project, with BNP Paribas, CoBank, ING, and Nomura Securities leading the construction and term financing.<\/p><p>\u201cConsistent with the first phase of the Edwards Sanborn project, the second phase deploys an innovate offtake structure that has been well received in the financing markets and allows us to raise the capital necessary to progress the construction of this transformative project. Once complete, Edwards Sanborn will play a significant role in helping California meet its carbon reduction goals and ensure electricity reliability through the use of stand-alone and collocated energy storage.\u201d said Jim Pagano, Terra-Gen\u2019s CEO.<\/p><p>Terra-Gen\u2019s Edwards Sanborn project is located in Kern County on land leased from Edwards Air Force Base as well as on adjacent private land. Mortenson is the full engineering, procurement and construction contractor on both the solar and energy storage scopes with First Solar supplying the solar modules and LG Chem, Samsung and BYD supplying the batteries. The project at its peak employed more than 750 union workers on-site.<\/p><p>Terra-Gen expects the solar portion of the second phase to come on-line in the third and fourth quarters of 2022 with the battery storage scheduled to be fully operational by the third quarter of 2023. Terra-Gen is advancing development on future phases of this project that will include over 2,000 MW of incremental solar and energy storage to be interconnected to the CAISO grid. Subsequent phases will begin to be financed in 2023 and begin to come on-line in 2024. When complete, the Edwards Sanborn Solar Storage franchise is expected to be the world\u2019s largest integrated solar powered battery storage project.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Terra-Gen Closes Financing For Second Phase of Edwards Sanborn Solar Storage Franchise in California Terra-Gen, LLC, a leading independent renewable energy provider, has completed financing on the second phase of its Edwards Sanborn Solar Storage facility in Kern County, Calif., a project that will produce clean energy for more than 164,000 homes and displace more [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[4],"tags":[],"class_list":["post-246","post","type-post","status-publish","format-standard","hentry","category-media-room"],"_links":{"self":[{"href":"https:\/\/mojave.gold\/terra-gen\/wp-json\/wp\/v2\/posts\/246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mojave.gold\/terra-gen\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mojave.gold\/terra-gen\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mojave.gold\/terra-gen\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mojave.gold\/terra-gen\/wp-json\/wp\/v2\/comments?post=246"}],"version-history":[{"count":0,"href":"https:\/\/mojave.gold\/terra-gen\/wp-json\/wp\/v2\/posts\/246\/revisions"}],"wp:attachment":[{"href":"https:\/\/mojave.gold\/terra-gen\/wp-json\/wp\/v2\/media?parent=246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mojave.gold\/terra-gen\/wp-json\/wp\/v2\/categories?post=246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mojave.gold\/terra-gen\/wp-json\/wp\/v2\/tags?post=246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}