Sempra closes Cali solar cash
Wells Fargo delivers final tranche of funding for 200MW PV project
Wells Fargo Renewable Energy and Environmental Finance has completed $85m in tax-equity funding for Sempra Renewables’ 200MW Great Valley solar complex in California.
The funding is the last tranche of $190m in finance for the four-project facility, which covers 647 hectares and features 860,000 solar modules.
Work on the projects was wrapped up in May, with more than 500 jobs created at peak construction.
Electricity from the complex is being sold under four offtake agreements. Marin Clean Energy is buying 100MW, Sacramento Municipal Utility District 60MW, Pacific Gas & Electric 20MW and Southern California Edison 20MW.
Wells Fargo Renewable Energy and Environmental Finance co-head Barry Neal said: “The Great Valley solar project builds on Wells Fargo’s leadership in clean technology and renewable energy financing.
“We’re pleased to partner on another successful and environmentally impactful project with Sempra Renewables.”