Capital Dynamics acquires 231 MW PV project from Skylar Resources in Nevada
Post date: 04/08/2019 - 11:22
Capital Dynamics' Clean Energy Infrastructure (CEI), part of Swiss private asset manager Capital Dynamics AG, has acquired the 231 MW »Townsite Solar« project located in Boulder City, Nevada, through the acquisition of Skylar Townsite LLC. The Townsite project will also feature a 90 MW (ac) / 360 MWh energy storage facility which will be »one of the largest in the world,« says the company. The transaction has closed and financial details of the transaction were not disclosed.
Three long-term PPAs to service two municipalities and a cooperative have been secured. The facility is expected to be fully constructed by the end of 2021. The project is expected to create 300 jobs with a peak demand of 400 jobs during a 12-month construction period. The plant is expected to have 10 full time onsite and offsite employees.
The project is part of »Gigawatt 1«, announced by Capital Dynamics, Tenaska Power Services Co. and Switch in February 2018. Gigawatt 1 aims to generate the lowest priced solar power in Nevada and generate enough clean energy to power nearly one million homes. The concept comes from an initiative called Rob Roy's Gigawatt Nevada, first proposed by Switch Founder and CEO Rob Roy four years ago.
In November 2018, the company has signed an agreement with US independent power producer Tenaska to develop a portfolio of greenfield solar projects in the midwestern United States. The transaction includes 14 solar projects with approximately 2,000 MW in the Midcontinent Independent System Operator (MISO) market.