Capital Dynamics partners with 8minute on a new solar project
Category: #energy-and-environment  By Anchal Solanki  Date: 2020-01-24
  • share
  • Twitter
  • Facebook
  • LinkedIn
Capital Dynamics partners with 8minute on a new solar project

Capital Dynamics’ CEI (Clean Energy Infrastructure) business has reportedly entered into a development partnership with 8minute Solar Energy through procurement and equity financing of the Eland Solar & Storage Center.

For the record, Eland Solar & Storage Center is a Kern County-based 400MWac project which features 300MW/1200 MWh energy storage capacity. It is slated to be one of the biggest storage facilities in the world.

Reportedly, a long-term power purchase agreement (PPA) has been secured to deliver the power needs of LADWP (The Los Angeles Department of Water and Power) which is the biggest municipal utility in the U.S. Initial construction, which has started, will be completed in two phases to start operations in 2022 and will achieve full operational capabilities in the year 2023.

Meanwhile, 8minute will be developing the project in all respects and will supervise its construction. The company also has a right to reacquire a part of the project at commercial operation. Situated 70 miles North of LA close to California City, the project would generate 700 jobs during its one-year construction period.

Benoit Allehaut, MD of Clean Energy Infrastructure team, Capital Dynamics, said that they are pleased to collaborate with 8minute Solar Energy on this project. Once fully operational, the project would be the second largest in the United States.

Adding further, Allehaut said that this would mark as the company’s fourth solar project that would deliver affordable and clean power to LADWP.

As per Dr. Tom Buttgenbach, CEO and President of 8minute, Capital Dynamics bring in immense expertise and substantial financial resources for the construction of the project, which makes the two firms exceptional partners and long-term owners.

With this partnership, 8minute is contributing to meet the future energy needs of Los Angeles with affordable and clean power generated from its cutting-edge solar power plants.
 

Source Credit - https://www.prnewswire.com/news-releases/capital-dynamics-and-8minute-solar-energy-partner-on-breakthrough-400mwac-eland-solar--storage-center-300990780.html

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Anchal Solanki

Anchal Solanki    

A civil engineer by qualification, Anchal Solanki forayed into the domain of content writing in the midst of her graduation, embarking on the career path of a successful freelancer. Equipped with a short-term experience in market research, Anchal currently writes news...

Read More >>

More News By Anchal Solanki

Comtech finalizes $9.1 million contract for its 5G Xypoint vMLC
Comtech finalizes $9.1 million contract for its 5G Xypoint vMLC
By Anchal Solanki

Comtech Telecommunications Corp., leading firm in providing safe and extremely reliable locations, navigation, communication technologies and public safety recently announced that the Location Technologies Group which is a division of Commercial Solu...

Vox Royalty begins trading on TSX-V exchange under ‘VOX’ ticker symbol
Vox Royalty begins trading on TSX-V exchange under ‘VOX’ ticker symbol
By Anchal Solanki

Vox Royalty Corp, the mining-focused streaming and royalty firm fixated on continuing to develop a portfolio of streams and royalties across a diverse commodity base, has reportedly begun trading on the TSX Venture Exchange under “VOX” ti...

JA Solar to conduct online VR exhibition to show its latest products
JA Solar to conduct online VR exhibition to show its latest products
By Anchal Solanki

JA Solar, a renowned manufacturer of various high-performance photovoltaic products, is set to conduct an online exhibition on May 25 at around 10 a.m. Beijing time in order to show its most recent and latest products boasting high-efficiency. Appar...