Published by Todd Bush on January 11, 2023
OAKLAND, Calif., Jan. 11, 2023 /PRNewswire/ -- Intersect Power, LLC, ("Intersect Power" or "Intersect"), announced the commercial operation of its Athos III solar project located in Riverside County, California, on December 22, 2022. The Athos III solar project was built by union labor, with American-made solar panels, batteries, and steel piles, meaning it is expected to meet the domestic content and prevailing wage requirements in the Inflation Reduction Act (IRA).
The Athos III solar project (also known as Blythe Mesa Solar II) generates 224 MWac/310 MWp of reliable solar energy, enough to power approximately 94,000 homes, and features 448 MWh of co-located storage.
"Today marks a major milestone for the Intersect Power team and our impact as a clean energy developer, owner and operator," said Intersect Power CEO Sheldon Kimber. "Athos III demonstrates that Intersect continues to pioneer procurement standards for our industry that live up to the vision of the IRA. This project is much more than a significant new source of clean energy for California's energy system; it's also a case study in how the clean energy industry can maximize our impact by prioritizing domestic supply chains and union labor to ensure the benefits of the clean energy transition are felt by all Americans."
The Athos III solar project is part of Intersect Power's near-term portfolio totaling 2.2 GW of solar PV and 1.4 GWh of co-located storage. The remainder of the portfolio will be operational in 2023. Construction of the Athos III solar project created 500 peak union jobs.
Funding for the project's construction and operations was secured as part of the broader portfolio financing announced last November, when Intersect Power closed on portfolio level term debt, tax equity, and construction financing commitments from leading financial institutions and investors. The portfolio term debt was provided by HPS Investment Partners. The Tax Equity was provided by Morgan Stanley Renewables Inc. Construction debt was provided by Coordinating Lead Arrangers MUFG and Santander Corporate & Investment Banking, along with Cobank, KeyBanc Capital Markets, Helaba, and Nord LB as Joint Lead Arrangers.
Intersect Power is a clean energy company bringing innovative and scalable low-carbon solutions to its customers in retail and wholesale energy markets. The company develops some of the world's largest clean energy resources providing low-carbon electricity, fuels, and related products to customers across North America. Intersect Power has a base portfolio of 2.2 GW of solar PV and 1.4 GWh of co-located storage that is under construction or in operation. The company's business plan includes growth in grid-tied renewables, as well as large-scale clean energy assets including green hydrogen. To learn more about Intersect Power, visit www.intersectpower.com.
SOURCE Intersect Power
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside this Issue 🌐 Generating a Cleaner Future with Hydrogen: Air Products' Chief Operating Officer, Dr. Samir J. Serhan, to Deliver Keynote Address at Hydrogen Transition Summit During COP28 in ...
Inside this Issue 🏆 LanzaTech Awarded Sustainable Markets Initiative 2023 Terra Carta Seal 🌿 Invert Partners with Carbonethic and Kaska Dena Council to Co-Develop Large-Scale, Nature-Based Project...
Inside this Issue 🌐 DevvStream Announces Participation at Upcoming COP28 Climate Change Conference 🛢️ Targray Joins Green Marine to Advance the Adoption of Sustainable Marine Fuels 🤝 Hyundai Motor...
IperionX 2023 Sustainability Report
CHARLOTTE, N.C.--(BUSINESS WIRE)--[IperionX Limited](https://www.iperionx.com) (IperionX) (NASDAQ: IPX, ASX: IPX) is pleased to release the Company's 2023 Sustainability Report, which shares our En...
*Esteemed List Recognizes Tech Breakthroughs Across Industries That Promise to Transform the Future* MENLO PARK, Calif.--(BUSINESS WIRE)--[Windfall Bio](https://www.windfall.bio/), a startup foc...
***Other Leaders across Air Products to Speak and Participate in COP28 Events*** ***Focused on Advancing the Energy Transition through Clean Hydrogen*** DUBAI, UAE, Nov. 28, 2023 /PRNewswire/ -...
PARIS--(BUSINESS WIRE)--Regulatory News: [Air Liquide](https://www.airliquide.com) (Paris:AI) and [Sasol](https://www.sasol.com/) have signed new Power Purchase Agreements (PPA) with the global ...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.