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Construction on the latest phase project in Westland Solar Park in Kings County has started now that some $600 million in construction financing has been obtained for this project called Grape Solar.
Construction on the latest phase project in Westland Solar Park in Kings County has started now that some $600 million in construction financing has been obtained for this project called Grape Solar.
Construction on the latest phase project in Westland Solar Park in Kings County has started now that some $600 million in construction financing has been obtained for this project called Grape Solar.
Owner, LA-based CIM Group’s, Permanent Power Company announced in recent weeks that it has closed an approximately $600 million construction financing facility for its Grape Solar and energy storage project.
The financing package includes an approximately $372.3 million construction-to-term loan, an approximately $166.7 million tax credit transfer bridge loan, and an approximately $61.3 million letter of credit facility.
Grape is a 246.4 MWac solar photovoltaic project with 150 MWac, or 600 MWh, of battery energy storage systems. The project is located in Westlands Solar Park, one of the largest permitted solar parks in the U.S., which spans more than 20,000 acres in California’s San Joaquin Valley. The first solar project in Westland Solar Park came online in 2016. All are located within the Westlands Water District.
Permanent Power Company recently signed a long-term power purchase agreement with an investment-grade regulated energy service provider for the full capacity of Grape’s solar generation and battery storage.
The project is now under construction and is expected to support more than 400 construction jobs. Once completed, Grape is expected to generate enough clean energy to power more than 86,000 California homes annually.
This month Kings County announced that contractor Primoris Renewables got approval to install two diesel-fired IC engines to help power construction at the site located on open land too salt laden to farm.
Most of the Westlands Solar Park projects carry ag-themed names like Pomegranate, Cherry, Almond and now Grape.
John Lindt covers agriculture and business for the Sentinel.
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