#USA #San Diego #Carlsbad #JVR Energy Park #BayWa r.e.

BayWa r.e. Secures $416 Million Funding for JVR Energy Park

In a significant move for renewable energy, BayWa r.e. has successfully secured a whopping $416 million to finance the Jacumba Valley Ranch (JVR) Energy Park, located in Southeastern San Diego County. This project features a combined 90 MWac/127 MWdc solar capacity along with 70 MWac/280 MWh of battery storage. Upon its anticipated operational launch in the fall of 2026, the JVR Energy Park is set to provide clean and reliable energy to approximately 57,000 homes within the region.

Funding Structure and Project Partners

Just recently, the groundbreaking for JVR Energy Park took place, which marks the start of construction as per the agreement for one of the region's most significant renewable energy infrastructure ventures. With the project expected to yield a considerable avoidance of approximately 500,000 metric tons of carbon dioxide emissions throughout its operational lifetime, the battery storage system is also projected to enhance grid stability, offering dispatchable capacity to manage demand fluctuations.

Geoff Fallon, Interim CEO and COO of BayWa r.e. Americas, expressed gratitude to all collaborators and stakeholders involved. He noted, "Today, BayWa r.e. Americas celebrates the result of years of collaboration with our partners and stakeholders. Breaking ground on JVR Energy Park reflects that shared effort, and we're deeply grateful to everyone who helped make it possible."

To facilitate construction and long-term operations, the project has secured a construction-to-term loan facility spearheaded by Société Générale, along with preferred equity investments from funds managed by Wafra Inc., a prominent alternative investment manager based in New York. Additionally, Acadia Infrastructure Capital, which focuses on North American power infrastructure investment, has also contributed preferred equity, marking a significant endorsement of BayWa r.e.'s track record.

Anthony Peek, Managing Director at Wafra, stated, "Our investment in JVR Energy Park demonstrates Wafra's ability to deliver creative capital solutions that advance large-scale power solutions." This highlights the broader investor confidence in the project's fundamentals, setting a promising outlook for its future.

Economic and Community Impact

On a community level, the JVR Energy Park is poised to create over 350 union construction jobs through project labor agreements, paving the way for a boost in local employment. Beyond construction roles, the project is expected to stimulate labor and supply chain activities, significantly increasing demand for local services ranging from lodging to dining. Over its operational lifecycle, it will also contribute considerable property tax revenue, which could significantly benefit local schools, roads, and essential public services.

BayWa r.e. has pledged an investment of $4 million directly to Jacumba Valley, a commitment that is being directed by input from the Jacumba Community Sponsorship Group and local surveys. As part of its corporate social responsibility initiatives, a fire protection agreement with the San Diego County Fire Authority has designated five acres of project land for the construction of a new fire station, with an additional 435-acre biological open space easement established to avoid disruption of critical habitats and wetlands.

About BayWa r.e. Americas

Based in Carlsbad, California, BayWa r.e. Americas is a leader in utility-scale solar, wind, and battery energy storage development and services. The company prides itself on being fully integrated, managing every aspect from site origination through long-term operational management. Currently boasting a development pipeline of 12.8 GW, BayWa r.e. oversees over 1.5 GW of operational assets across the U.S. and Mexico, further solidifying its position in the renewable energy landscape.

As JVR Energy Park progresses towards its 2026 operational launch, the project signifies a substantial step towards fostering sustainable energy solutions in the San Diego region and contributing positively to the environment and local economy.