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Capital Dynamics, 8minute acquire 300-MW Nevada solar project

Solar panels in USA. Author: Pete Jelliffe. License: Creative Commons. Attribution-NoDerivs 2.0 Generic.

January 9 (Renewables Now) - Private asset manager Capital Dynamics and US independent solar and storage developer 8minute Solar Energy on Thursday said they have purchased a 300-MW solar project in Nevada.

The Eagle Shadow Mountain solar project, located on the Moapa River Indian Reservation in Clark County, is to be developed and deployed by 8minute Solar, with the solar farm expected to be completed by the end of 2021. Once operational, the plant will produce over 900,000 MWh of power annually and sell it to Nevada utility NV Energy under a long-term power purchase agreement (PPA).

8minute is partnering with the Moapa Band of Paiutes for the construction and operating of the solar park.

This is Capital Dynamics' third deal with 8minute. The acquisition of the solar farm, which has a direct current (DC) capacity of 387 MW, brings the asset manager's global portfolio to about 6.1 GW in DC capacity. Meanwhile, 8minute's US portfolio has increased to over 15 GW of solar and storage capacity under development.

8minute is also developing a project that will add 300 MW of solar power with 135 MW of battery storage within the Southern Bighorn Solar & Storage Centre, in Clark County, Nevada. The project also has a contract with NV Energy.

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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