The solar project is part of the Gigawatt 1, a portfolio which aims to supply clean energy to one million homes
Image: Capital Dynamics acquires 180MW solar plant. Photo: Courtesy of Robert Jones/Pixabay.
Swiss asset management firm Capital Dynamics, through its Clean Energy Infrastructure (CEI) business has acquired the 180MW Townsite Solar Project located in Boulder City, Nevada, by acquiring Skylar Townsite.
The solar project also features a 90MW/360MWh energy storage facility. Expected to be completed by the end of 2021, the power generated from the solar project will be sold under three long-term power purchase agreements (PPAs) to service two municipalities and a cooperative.
The project is expected to create nearly 300 jobs and during the peak of construction activity, about 400 jobs will be created. Upon completion, the plant will have 10 full time onsite and offsite employees.
Townsite Solar Project is part of Gigawatt 1 announced by Capital Dynamics and its partners
The Townsite Solar Project is part of Gigawatt 1, one of the largest solar project portfolios in the world announced last February by Capital Dynamics, Tenaska Power Services and Switch.
With Gigawatt 1, the aim is to generate the lowest-priced solar power in Nevada and generate enough clean energy to power about 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.
Switch strategy executive vice president Adam Kramer said: “This major acquisition moves forward the overall vision of Rob Roy’s Gigawatt Nevada.
“Gigawatt 1 creates new clean energy jobs, the generation of new tax revenue for Nevada, important economic diversification, and strengthens our energy independence.”
Capital Dynamics managing director Benoit Allehaut said: “We would like to thank the Skylar team for working with us on one of the most complex renewable energy investments we have done to date. Townsite is an important project which is part of our Gigawatt 1 commitment.
“We believe this is the first hybrid utility-scale solar and energy storage project serving fixed volume power purchase agreements. Our view is that this type of service represents the future of the renewable energy sector and we are glad to innovate and help the market mature to more customer-focused products and services.”
In May, the Swiss asset management firm and First Solar commissioned the 280MW California Flats Solar Project located near the borders of San Luis Obispo and Monterey County in California.
The solar farm was built in two phases and has secured to long-term PPAs serving both utility and corporate renewable customers.