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Estuary Power's Escape Solar and Storage Project: A New Era in Renewable Energy

In late December 2024, Estuary Power completed a significant financing package totaling $340 million for its groundbreaking Escape Solar and Storage project, located in Lincoln County, Nevada. This initiative not only showcases the potential of solar energy but also highlights Estuary's commitment to innovative solutions that benefit multiple stakeholders.

Project Overview

The Escape project will harness 185 megawatts (MW) of solar photovoltaic capacity and 400 megawatt-hours (MWh) of battery energy storage. This renewable energy source will be delivered under long-term contracts to major clients including MGM Resorts International, Caesars Entertainment, and Wynn Las Vegas, effectively powering key establishments on the iconic Las Vegas Strip. The energy distribution is planned as follows:

• - 115 MW to MGM Resorts International
• - 25 MW to Overton Power District
• - 25 MW to Caesars Entertainment
• - 20 MW to Wynn Las Vegas

This project marks the first utility-scale solar development in Lincoln County, set to generate nearly $80 million in tax revenue throughout its operational lifespan.

Construction and Collaboration

Currently under construction and anticipated to begin operations in 2025, the solar array is being developed by Bechtel Infrastructure and Power Corporation, while crucial transmission upgrades are handled by Dashiell Corporation. The battery energy storage system will be installed by Tesla, Inc., with solar panels supplied by JinkoSolar, a leader in solar technology.

Estuary Power, headquartered in Reno, Nevada, is proud to be a majority woman-owned business supported by the Ullico Infrastructure Fund (UIF), which focuses on developing and refurbishing critical U.S. infrastructure. Notably, many of its investors are union pension funds, including several from Nevada, ensuring that local labor is prioritized. Construction work on Escape is being performed by members of various unions, showcasing Estuary's commitment to responsible contracting.

During a recent appreciation lunch for craft professionals at the project site, Brian Hale, CEO of Ullico Inc., expressed his enthusiasm for the partnership with Estuary, stating: "Ullico is excited to continue to invest in Nevada and throughout the West. Through UIF and our collaboration with Estuary, we aim to enhance infrastructure and create competitive returns for union pensions while providing worthwhile job opportunities."

Commitment to Sustainability

Jill Daniel, CEO of Estuary Power, emphasized the pride her team takes in this project, remarking on their commitment to quality and integrity and the importance of customer trust in achieving sustainability goals. She stated, "We look forward to delivering renewable energy to our esteemed partners and contributing to more eco-friendly solutions in Nevada."

Moreover, Kelley Brown, Operations Manager at Bechtel's Renewables Clean Power division, reaffirmed the commitment to delivering clean energy solutions swiftly and effectively, promising to leverage advanced digital processes and top industry talents.

Financial Backing and Support

Escape's financing strategy includes diverse investments such as tax equity commitments from Morgan Stanley Renewables Inc., bridge loans from various banks, and long-term financing through Denham Capital. The collaboration of multiple financial entities illustrates a strong backing for sustainable initiatives in the energy sector.

In conclusion, the Escape Solar and Storage project sets a landmark precedent for solar development in Lincoln County and showcases Estuary Power’s strategic approach to renewable energy solutions. As this influential project progresses, it not only serves to affirm Nevada's commitment to green initiatives but also empowers local communities through job creation and investment.

For further information about Estuary Power, visit www.estuarypower.com or follow them on LinkedIn.