CleanCapital to build 8.5-MW solar project in Alaska
Image by CleanCapital
US clean energy investment platform CleanCapital said on Tuesday it will invest in an 8.5-MW solar project in Alaska, which will be the state’s largest solar facility by far.
The company will provide financing for project construction as part of a corporate investment in local solar developer Renewable IPP that will also fund Renewable IPP’s operations to accelerate its future development pipeline in the state.
CleanCapital will be the long-term owner-operator of the project, which will supply power to local utility Matanuska Electric Association (MEA). Construction will begin this month, with completion expected in the summer of 2023.
Commenting on the development, Jenn Miller, chief executive of Renewable IPP, said: “Proving solar works in the last frontier begs the question, can’t it work anywhere?”
“Accelerating the energy transition necessitates seeking out regions that are currently underserved by the solar industry and working with local partners to build the projects that will bring cost-competitive and emissions-free power to those communities,” added Julia Bell, chief commercial officer at CleanCapital.