Vistra agrees USD 3.25bn buyout of zero-carbon energy unit
Sep 19, 2024 11:01 CESTUS renewables developer-operator Swift Current Energy announced today that it has attracted Alphabet Inc’s (NASDAQ:GOOGL) search engine giant Google as a backer of the 593-MW Double Black Diamond Solar project that is currently under construction in southern Illinois.
The support comes in the form of a tax equity investment, a press statement says.
The project, with a direct current (DC) capacity of 800 MW, is expected to be the largest solar project east of the Mississippi River when switched on. Once commissioned, which is expected by early 2025, the facility will generate enough clean electricity to power 100,000 homes annually.
Double Black Diamond Solar is being built 30 miles (48 km) west of Springfield. Construction financing was arranged with Mitsubishi UFJ Financial Group (MUFG), Societe Generale, Truist and ING.
The solar farm will be equipped with First Solar modules, most of which locally made, and solar trackers from Nextracker. McCarthy Building Companies Inc has been hired for the engineering, procurement and construction (EPC) services.
Swift Current is the project developer and will be the long-term owner and operator of the site.
Vistra agrees USD 3.25bn buyout of zero-carbon energy unit
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