8minutenergy Renewables has closed debt and tax equity financing and started construction of the 26MW Redwood 4 solar farm located in California.
Zions Bancorporation is providing the project’s construction debt and bridge loan, while US Bancorp is delivering the tax equity investment.
8minutenergy said the the project is expected to be completed later this year.
Redwood 4 will be part of the combined 100MW Redwood solar cluster near Bakersfield, 8minutenergy said.
Pacific Gas and Electric will buy all the electricity generated by new project.