Capital Dynamics and 8minutenergy Renewables announced that Capital Dynamics has purchased the third, 328 megawatt stage of the Mount Signal Farm, in Caleixco, CA. At a total of 800 MWs, it’s one of the largest solar farms in the US and world. Mortenson Construction will create between 300 and 400 jobs to install 2.8 million First Solar photovoltaic panels, bringing the massive project online by the end of 2018.
Only a few solar projects are larger than the third phase of the Mount Signal Solar Farm, like the two phase, 579 megawatt Solar Star farm in California. Some projects in China will dwarf the 800 MW Mount Signal Solar Farm, like the 1,500 MW Tengger Desert Solar Park.
While Capital Dynamics acquired Mount Signal 3’s equity interests from 8minutenergy, the latter will continue to be the project developer. The transaction is slated to close in late July 2017.
“As the original developer of the Mount Signal Solar Farm, we successfully built the 260 MW-dc Mount Signal 1 project, and brought it online in 2013. We are thrilled to bring Mount Signal 3 to fruition, which is the largest in 8minutenergy’s history,” said 8minutenergy CEO and Founder Martin Hermann. “It’s our mission to deliver abundant and affordable clean energy, and we are certainly doing that with Mount Signal 3. Through our rigorous project development approach, we are going to once again be delivering solar power at cost-competitive rates to fossil fuels.”
“We are proud to own the Mount Signal 3 solar project, and to deepen our relationship with 8minutenergy,” said Capital Dynamics’ Head of Clean Energy Infrastructure (CEI) John Breckenridge. “With over 3 GW of renewable assets in our portfolio, we seek quality projects with teams that we can depend upon to deliver. This transaction is consistent with CEI’s strategy of long-term ownership of high-quality power generation assets in North America and Europe.”
“We’re proud to be working together to bring clean energy to Imperial Valley, and to do so in an environmentally-friendly manner,” said 8minutenergy President and Co-Founder Tom Buttgenbach. “Mount Signal 3 will be built upon 2,000 acres of low-productivity farmland, and we will be significantly reducing water usage in the region, as well as protecting wildlife habitat during construction and operation.” Indeed, 8minutenergy is developing multiple projects on land that’s otherwise underutilized.Tweet