GameChange Solar has unveiled the terrain-following Genius Tracker TF. This system allows for greater slope change, allowing the tracker system to follow the undulations of the ground.

The system, in turn, allows installers to reduce their construction costs by minimizing or eliminating civil grading work, as confirmed through real-world testing.

“Customers have been asking for terrain following capabilities for our leading Genius Tracker system,” states Andrew Worden, CEO of GameChange Solar. “Not only have we met their requests, but we have leapfrogged all other tracker companies to give our customers the greatest post to post slope change and other needed topography related allowances in the industry. We feel this can meaningfully reduce grading costs and help our customers improve their project ROIs.”

GameChange Solar is a manufacturer of fixed-tilt and tracker solar racking systems, with over 21 GW sold.

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Independent renewable energy provider Terra-Gen LLC has completed financing on the second phase of its Edwards Sanborn Solar Storage facility in Kern County, Calif.

This phase of the Edwards Sanborn Solar Storage facility is composed of 410 MW AC of nameplate solar capacity (358 MW AC at the point of interconnection) and 1,786 MWh of battery storage.

The first phase of the Edwards Sanborn project was financed in July 2021, and its 345 MW of solar and 1,505 MWh of storage are now fully operational.

The financing for the second phase includes $959 million senior secured credit facilities comprising a $460 million construction and term loan facility, a $403 million tax equity bridge facility, and a $96 million construction and revolving letter of credit facility. U.S. Bank is providing the tax equity commitment for the project, with BNP Paribas, CoBank, ING and Nomura Securities leading the construction and term financing. 

“Consistent with the first phase of the Edwards Sanborn project, the second phase deploys an innovate offtake structure that has been well received in the financing markets and allows us to raise the capital necessary to progress the construction of this transformative project,” says Jim Pagano, Terra-Gen’s CEO. “Once complete, Edwards Sanborn will play a significant role in helping California meet its carbon reduction goals and ensure electricity reliability through the use of stand-alone and collocated energy storage.”

Terra-Gen’s Edwards Sanborn project is located in Kern County on land leased from Edwards Air Force Base as well as on adjacent private land. Mortenson is the full engineering, procurement and construction contractor on both the solar and energy storage scopes with First Solar supplying the solar modules and LG Chem, Samsung and BYD supplying the batteries.

Terra-Gen expects the solar portion of the second phase to come on-line in the third and fourth quarters of 2022 with the battery storage scheduled to be fully operational by the third quarter of 2023. Terra-Gen is advancing development on future phases of this project that will include over 2,000 MW of incremental solar and energy storage to be interconnected to the CAISO grid. Subsequent phases will begin to be financed in 2023 and begin to come on-line in 2024.

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Greenbacker Renewable Energy Co. LLC (GREC), a green energy investment company and independent power producer, has entered into a senior credit agreement of $186.2 million with KeyBank N.A. and Fifth Third Bank.

KeyBank served as administrative agent for the lenders, and KeyBanc Capital Markets and Fifth Third Bank served as joint lead arrangers.

The transaction is one of Greenbacker’s largest standalone debt financings to date, providing a construction loan facility to build two of the biggest solar projects in company history.

The MTSun and Fall River solar farms – which make up GREC’s Ponderosa portfolio – are each 80 MW AC. Both assets have long-term power purchase agreements in place with local investment-grade utilities, MTSun with Northwestern Energy and Fall River with Black Hills Power Inc.

“We’re thrilled to partner with KeyBank and Fifth Third Bank on this senior credit agreement to build projects that will drive a clean energy future in a very real way,” says Spencer Mash, CFO of GREC. “Once complete, they’ll deliver cheaper renewable energy to tens of thousands of households across Montana and South Dakota.”

“The Ponderosa transaction illustrates our ongoing commitment to grow the renewable energy industry by deploying capital in high-quality assets,” states Gregory Berman, director of Utilities Power & Renewables at KeyBanc Capital Markets. “This represents our seventh financing with Greenbacker, and we look forward to supporting their continued growth as a leader in the energy transition.”

The two assets are located in Yellowstone County, Mont. and Fall River County, S.D., respectively.

“Fifth Third Bank’s commitment to financing renewable energy technologies is well-known and steadfast,” comments Kyle Kuhn, renewable energy executive director at Fifth Third Bank. “We are pleased to be a part of this milestone transaction with Greenbacker that will support the clean energy transition.”

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