185MW solar-plus-storage site to supply Las Vegas Strip following US$340 million financing
Summary
The project financing includes a tax equity commitment from Morgan Stanley Renewables, a tax equity bridge loan provided by First Citizens Bank & Trust Company, Norddeutsche Landesbank Girozentrale (Nord/LB) and National Bank of Canada, as well as a long-term construction-to-term facility provided by Denham Capital on behalf of its clients.Construction of the project is currently underway, and Estuary expects it to be operational sometime in 2025. Tesla is providing the BESS unit for the site, and Chinese solar module manufacturer JinkoSolar will supply TOPCon solar PV modules.Bechtel Infrastructure and Power Corporation is constructing the solar array, and Dashiell Corporation is behind the erection of the substation and transmission upgrades.Once operational, the Escape solar-plus-storage site will supply four Nevada-based customers under long-term power purchase agreements (PPAs). We look forward to supplying renewable energy to the iconic Las Vegas Strip and to our valued partner Overton Power District.Several solar-plus-storage projects are being developed in the US state of Nevada. In July 2024, PV Tech reported that investment fund Quinbrook Infrastructure Partners and its subsidiary Primergy Solar reached commercial operations at their 690MWac/966MWdc Gemini solar-plus-storage project in Clark County. The deal will see California community energy supplier San Diego Community Power acquire power generated by Primergys 400MWac Purple Sage Energy Center, a project currently under development.