Capital Dynamics 8minute Acquire 387mw Solar Project In Nevada
The acquisition increases Capital Dynamics CEI global portfolio to nearly 6.1GW of gross power generation
Capital Dynamics and 8minute acquire solar project in US.
Swiss asset management company Capital Dynamics has partnered with 8minute Solar Energy to acquire the 387MW Eagle Shadow Mountain Solar Project located near Clark County, Nevada.
Located on the Moapa River Indian Reservation, the solar farm could generate nearly 400 jobs during the 18 months of the construction period and 10 full-time jobs after the completion of the project.
With a population of less than 250 full-time residents, the Moapa River Indian Reservation occupies a remote, sun-drenched corner of the Nevada desert.
8minute Solar Energy president and CEO Tom Buttgenbach said: Its an honor to be collaborating with the Moapa Band of Paiutes on this project.
With a proven track record of on-time, on-budget delivery, 8minute is confident that Eagle Shadow Mountain be a lifelong asset to the Moapa River Indian Reservation communityand were grateful to Capital Dynamics for their contribution to making it happen.
When the Eagle Shadow Mountain solar project comes online, it is expected to generate over 900,000 MWhs of clean energy annually.
We look forward not just to a successful deployment of the plant, but fostering the development of a solar-dominant culture throughout Nevada.
Capital Dynamics Closes Financing For Eagle Shadow Mountain Solar Project
Capital Dynamics Clean Energy Infrastructure business has reached financial close on the 383-megawatt Eagle Shadow Mountain solar photovoltaic project located on the Moapa River Indian Reservation in Nevada.
Project financing consisted of $327 million in credit facilities led by MUFG Union Bank, including a $202 million construction-to-term loan facility.
This project is a testament to our deep and collaborative relationships with both 8minute Solar Energy and the Moapa Band of Paiutes, and a meaningful addition to our rapidly growing portfolio of long-term contracted solar assets, said Benjamin Droz, vice president of CEI at Capital Dynamics.
The project represents CEIs third transaction with solar developer 8minute Solar Energy, which will continue to oversee the development of Eagle Shadow Mountain. It is expected to undergo an 18-month construction period, with completion scheduled for the end of 2021.
Minutenergy And Nv Energy Announce Largest Solar Project Ever On Tribal Land
300 MW Eagle Shadow Mountain Solar Farm to be Built in Southern Nevada
SAN FRANCISCO & LAS VEGAS—-8minutenergy Renewables, LLC , the largest independent solar and storage developer in the U.S., and NV Energy today announced that 8minutenergy has been chosen by NV Energy to develop the 300 MW Eagle Shadow Mountain Solar Farm in Clark County, Nevada. The project will be built on the Moapa River Indian Reservation about 30 miles north of Las Vegas, and will be the largest solar installation to date built on tribal land. Eagle Shadow Mountain will also be the largest solar PV project ever built for NV Energy, as part of its latest tranche of renewable projects totaling over 1 gigawatt.
We are honored to be working with NV Energy and the Moapa Band of Paiutes to bring this remarkable project to fruition, said Martin Hermann, CEO and Founder of 8minutenergy. The Eagle Shadow Mountain Solar Farm will deliver abundant and affordable energy to about 180,000 Nevada homes, providing them with reliable clean power. This will also be the largest standalone project in 8minutenergys portfolio, and we are dedicated to upholding our track record of finalizing the plants operation on-time and on-budget.
About NV Energy
About 8minutenergy Renewables, LLC
Don’t Miss: Solar Powered Air Conditioner Window Unit
Sris Residence Richmond Hill On
Sri was paying around $150 per month on his hydro bill but was thinking of going solar for many years to save money and the environment. When the Canadian government introduced the $5,600 Greener homes grant Sri saw that as a great opportunity and called SolarUp for a quote. Sri has a Tesla car and is getting another EV very soon so he had SolarUp design an 11.7KW solar system to offset his current and future electrical consumption.SolarUp installed 26 top-of-line Longi solar panels along with 26 SolarEdge Power Optimizers to ensure proper solar panel system monitoring. The new solar panel system will be generating 13,116 kWh annually and Sri will see a complete ROI within 8 years or less.
Save Money, Save The Environment!
Avantus & Moapa Band Of Paiutes Partner On Eagle Shadow Mountain Solar Project
Avantus highlights its continued collaboration with the Moapa Band of Paiutes on the 383 MWdc Eagle Shadow Mountain Solar Project to provide an on-the-ground perspective on solar development. Located on the Moapa River Indian Reservation, Eagle Shadow Mountain is currently under construction and will provide power to 250,000 people across Nevada once online.
Read Also: What’s In A Solar Panel
Eagle Shadow Mountain Solar Pv Park Us
Eagle Shadow Mountain Solar PV Park is a 383MW solar PV power project. It is planned in Nevada, the US.
Eagle Shadow Mountain Solar PV Park is a 383MW solar PV power project. It is planned in Nevada, the US. The project is currently in financed stage. It will be developed in single phase. Post completion of the construction, the project is expected to get commissioned in December 2021.
| Project Type |
|---|
| 8minute Solar Energy |
Description
The project is being developed by 8minute Solar Energy . 8minute Solar Energy and Capital Dynamics are currently owning the project.
Eagle Shadow Mountain Solar PV Park is a ground-mounted solar project which is planned over 2,200 acres.
The project is expected to generate 900,000MWh electricity and supply enough clean energy to power 180,000 households. The project is expected to offset 600,000t of carbon dioxide emissions a year. The project cost is expected to be around $412.874m.
Development Status
Post completion of the construction, the project is expected to get commissioned in December 2021.
Power Purchase Agreement
The power generated from the project will be sold to NV Energy under a power purchase agreement. The power will be sold at the rate of $0.023kWh for a period of 25 years. The capacity to be procured is 300MW.
About 8minute Solar Energy
Methodology
Minute Solar Energy Celebrates Its Partnership With Moapa Band Of Paiutes
This press release was originally published under 8minute. 8minute changed its name to Avantus in 2022.
Workers at the Eagle Shadow Mountain Solar Project highlight the opportunities solar provides, especially for tribal communities
LOS ANGELES, March 17, 2022 â To provide an on-the-ground perspective on solar development, 8minute Solar Energy is highlighting its continued collaboration with the Moapa Band of Paiutes on the 383 MWdc Eagle Shadow Mountain Solar Project. Located on the Moapa River Indian Reservation, Eagle Shadow Mountain is currently under construction and will provide power to 250,000 people across Nevada once online.
âThe Eagle Shadow Mountain Solar Project â a true testament to clean, affordable energy â would not be possible without our partner, the Moapa Band of Paiutes, who will have supported project development at every stage from initial siting and permitting through construction and eventual operation,â said Dr. Tom Buttgenbach, 8minute Founder and CEO. âTogether, weâre bringing good-paying jobs to the Moapa River community and creating a clean, healthy energy future for all.â
Listen to tribal members and project managers as they share why solar projects, like Eagle Shadow Mountain, provide important opportunities for tribal communities looking to chart a clean energy future.
ABOUT 8MINUTE SOLAR ENERGY
Avantus is leading the clean energy transition to advance us all to a more prosperous future.
Also Check: Is Solar Energy Carbon Neutral
Commission Approves Largest Clean Energy Investment In Nevada History
The Public Utilities Commission of Nevada last month approved NV Energy’s Integrated Resource Plan, which will bring 1001 MW of new renewable energy projects to Nevada, including, for the first time, 100 MW of battery storage capacity.
Three of the projects will be located in northern Nevada and three will be located in southern Nevada. All projects are expected to be completed and serving customers by the end of 2021.
“Earlier this year we made a promise to our customers that we would double our renewable energy by 2023 and today’s decision puts us closer to reaching that goal, as well as to our long-term commitment to serve them with 100 percent renewable energy,” said Doug Cannon, NV Energy President. “These six new projects, which represent the largest renewable energy investment in Nevada’s history, will also bring great economic benefits to our state.”
These projects represent a direct investment of more than $2 billion in our state’s economy. More than 1700 construction workers will be needed, and NV Energy required worksite labor agreements to ensure that union craftsmen will participate. Approximately 80 new long-term, permanent jobs will be created. In addition, the Integrated Resource Plan will benefit customers by reducing costs over the next 30 years when compared to relying on wholesale power markets.
Six New Power Purchase Agreements:
Ntua Kayenta Solar Project
The Kayenta Solar Farm was built by NTUA in two phases. Phase I was completed in 2017, and Phase II in 2019, spanning a combined area of 365 acres a few miles north of Kayenta. The utility-scale solar plant generates 55 megawatts of power and can supply enough electricity for up to 28,500 Navajo Nation homes and businesses. It is currently the largest solar plant on any tribal land owned by the tribe and its people. We are proud to say that more than 87% of the labor for the project was performed by Navajo workers.
You May Like: How Can I Get Free Solar Panels For My House
Eagle Shadow Mountain Solar Farm
| Eagle Shadow Mountain Solar Farm |
|---|
| Country |
Eagle Shadow Mountain Solar Farm is a planned 420 MWp north of Las Vegas, Clark County, Nevada on the Moapa River Indian Reservation.The facility is being developed by 8minutenergy Renewables and when completed will be the largest on tribal lands in North America. It is also the largest component within NV Energy‘s current tranche of renewable energy projects that will create over 1 Gigawatt of new electricity supply.
The electricity generated will have a flat rate of $23.76 per megawatt-hour throughout its 25-year power purchase agreement term, which could establish a new record-low rate for a solar PPA contract.
The project is also part of NV Energys plans to retire a 254 MW coal-fired unit in a power-constrained region of Nevada at the end of 2021, four years ahead of schedule.
Utility Bill Rate Design
Good electricity rate design allows you to save money when you save energy. This might sound intuitive but not all provinces are same. Superior designs have low fixed monthly fees and tiered electricity rates. Inferior designs have high fixed fees and flat electricity rates.
Ontario scores near the front of the pack when it comes to these factors having time-of-use rates and fixed monthly fees of $26 .
For example, reducing your electricity bill from 1,500 to 750 kWh per month will save you 54% on your electricity bill in British Columbia, 48% in , but only 43% in Ontario!
Note that fixed monthly fees dont disappear even if you switch to solar youll pay them as long as you remain connected to the grid. But this isnt a bad thing $26/mo is a small price to pay for using the grid as your back-up energy source!
The only way to completely remove your fixed costs is to go off the grid, something most homeowners in Ontario dont do because of high battery costs.
Disconnecting from the grid also means that you wont be able to participate in your utilitys net metering program.
Don’t Miss: Can You Use Pine Sol On Stainless Steel
Eagle Shadow Mountain Solar Project
All dates below are specific to the schedule of the Environmental Review and Permitting processes for this project.
ENVIRONMENTAL REVIEW AND PERMITTING STATUSCOMPLETE
COMPLETION DATE OF ENVIRONMENTAL REVIEW AND PERMITTING07/30/2020
ENVIRONMENTAL REVIEW AND PERMITTING PROCESSESCOMPLETED
Department of the Interior, Bureau of Indian Affairs
Other Agencies with Actions or Authorizations:
Department of the Interior, Fish and Wildlife Service
Department of the Interior, Bureau of Land Management
Capital Dynamics Achieves Fin Close On 383
The Eagle Shadow Mountain solar project, located on the Moapa River Indian Reservation in Clark County, will be deployed by 8minute Solar Energy. The latter purchased the scheme together with Capital Dynamics at the start of this year.
Capital Dynamics announced the projects financial close on Thursday. Some USD 327 million in debt facilities were provided by MUFG Union Bank NA, including a USD-202-million construction-to-term loan. Commonwealth Bank of Australia and Sumitomo Mitsui Banking Corp also provided a letter of credit facility. Capital Dynamics said it is currently arranging tax equity financing.
8minute Solar will oversee the project development. After an 18-month construction process, the solar farm will go live by the end of 2021. Once operational, the plant will produce over 900,000 MWh of power annually and sell it to Nevada utility NV Energy under a long-term power purchase agreement .
MUFG acted as administrative and collateral agent and coordinating lead arranger for the loan facility. Amis, Patel & Brewer LLP was Capital Dynamics legal counsel.
Also Check: Do You Actually Save Money With Solar Panels
Capital Dynamics Secures Funding For 383
By Billy Ludt | December 2, 2020
Clean Energy Infrastructure, a subsidiary of Capital Dynamics, has closed financing a solar photovoltaic project, located on the Moapa River Indian Reservation in Nevada.
The Eagle Shadow Mountain project builds on the initial collaboration with 8minute Solar Energy, which continues to oversee project development. The project is anticipated to generate up to 400 new jobs during the 18-month construction period, with 10 full-time employees working at the plant upon completion by the end of 2021. The project marks the Clean Energy Infrastructure Teams third transaction with the solar developer.
Project financing for Eagle Shadow Mountain comprised $327 million in credit facilities led by MUFG Union Bank, including a $202 million construction-to-term loan facility with a tenor of construction plus five years.
We are pleased to complete a path-breaking financing with MUFG and our other financial partners, particularly in the midst of a challenging market environment, said Benjamin Droz, VP of Clean Energy Infrastructure at Capital Dynamics. This project is a testament to our deep and collaborative relationships with both 8minute Solar Energy and the Moapa Band of Paiutes, and a meaningful addition to our rapidly growing portfolio of long-term contracted solar assets.
MUFG acted as Administrative and Collateral Agent, as well as Coordinating Lead Arranger for the loan facility.
News item from Capital Dynamics
Capital Dynamics And 8minute Solar Energy Collaborate On 387mwdc Eagle Shadow Mountain Solar Project
This press release was originally published under 8minute. 8minute changed its name to Avantus in 2022.
NEW YORK and LOS ANGELES, Jan. 9, 2020 â Capital Dynamics, an independent global private asset management firm, and 8minute Solar Energy , the largest independent solar and storage developer in the U.S., today announced the acquisition of the Eagle Shadow Mountain Solar Project. Located near Clark County, Nevada, Eagle Shadow Mountain is the first of two clean energy projects on the site that 8minute is contracted to develop and deploy. The 300MWac/387MWdc solar project is slated for completion and opening by the end of 2021.
Located on the Moapa River Indian Reservation, the Eagle Shadow Mountain project is anticipated to generate up to 400 new jobs during the 18-month construction period, with 10 full-time employees working at the plant upon completion. Occupying a remote, sun-drenched corner of the Nevada desert, the Moapa River Indian Reservation has a population of less than 250 full-time residents. As with previous projects in the area, the developers will rely heavily on the rich talent pool provided by the Moapa Band of Paiutesâboth for building and operating the solar and storage plant.
Avantus is leading the clean energy transition to advance us all to a more prosperous future.
Read Also: Do Solar Power Banks Work
Recurrent Energy Completes 108 Mw Of Solar Projects In Ontario
Recurrent Energy announced the commercial operation of 10 solar PV projects totaling 108 MWp/78 MWac in Ontario, Canada.
The solar projects will provide clean solar-generated electricity to the Ontario Power Authority for the next 20 years through feed-in-tariff agreements. During their first year of operation, the projects are collectively expected to generate enough energy to power more than 13,300 homes in Ontario.
These projects are 10 of twenty-three projects Recurrent Energy has brought online in the last year bringing our total operating portfolio to more than half a gigawatt globally, said Arno Harris, CEO of Recurrent Energy. Completing our 220-MW Ontario portfolio represents years of hard work and collaboration with our financial partners and numerous stakeholders in Ontario and local communities.
In October 2013, Fiera Axium Infrastructure and MetLife Inc. affiliates announced a joint commitment to acquire eight of the projects . Fiera Axium acquired the remaining two projects totaling 22 MWp/16 MWac. The acquisition was completed following commercial operation of the projects.
Investing in renewable energy is an integral part of MetLifes strategy to promote sustainable development and provide shareholders with attractive long-term returns, said Scott Inglis, managing director of private securities at MetLife. We are proud to work on these leading-edge projects providing renewable energy to thousands of electricity customers.
