Capital Dynamics joins Switch in Gigawatt 1 solar project in Nevada

Asset management group Capital Dynamics will develop and a solar project portfolio in Nevada, promoted by Las Vegas-based data centre technology company Switch (NYSE:SWCH).

The Gigawatt 1 photovoltaic (PV) assets will be constructed in Northern and Southern Nevada, under the so-called Gigawatt Nevada initiative proposed by Switch’s CEO Rob Roy three years ago, Switch said on Wednesday.

The data centre company has committed to be one of the solar park’s “anchor” customers, along with several Switch CORE clients in the data centre and telecommunication segments. Meanwhile, multiple private and public sector customers from Nevada and other states have already started talks to join the project, which Switch says will enable them to get renewable power at a “substantially” lower price than the one offered by local utility NV Energy.

"Nevada enjoys the best solar window in the nation and so we Nevadans should not only be using solar for ourselves, but exporting it throughout the Western U.S. to create new jobs, tax revenue, economic diversification, and raise energy independence," said Rob Roy.

The construction of the huge solar park will open 1,250 construction jobs that will be locally sourced. Panels to be used in the project will be made in America, Switch added.

As part of its commitment to run its operations with 100% clean energy, Switch has been partnering with Nevada utilities to purchase renewable electricity for its facilities under its all-inclusive green technology strategy. In December 2017, EDF Renewable Energy’s Switch Station 1 and Switch Station 2 solar plants, totalling 179 MW, started power generation for the company.

Earlier this week it was announced that Capital Dynamics has agreed to acquire 8point3 Energy Partners LP (NASDAQ:CAFD), the joint solar yieldco of SunPower and First Solar, for about USD 977 million. 8point3 had interests in 946 MW of US solar assets at the end of September 2017.

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