#United States #Reno, Nevada #Estuary Power #Escape Solar #Renewables Project

Estuary Power Launches Escape Solar and Storage Project

Estuary Power has announced the official start of operations for its innovative Escape Solar and Storage project located in Lincoln County, Nevada. This ambitious project is designed to significantly contribute to the renewable energy landscape in the region, featuring a capacity of 185 megawatts (MW) of solar power and 400 megawatt-hours (MWh) of energy storage.

The project kicked off with its first phase, delivering 70 MW of solar capacity, which began supplying clean energy as early as June, even before the anticipated completion date. The initial customers for this solar energy include notable entities such as Overton Power District No. 5, Caesars Entertainment, and Wynn Las Vegas, all of which have entered into long-term power purchase agreements with Estuary Power. The second phase of the Escape project, which will add 115 MW of solar and full battery storage capacity, is set to provide capabilities for MGM Resorts International later this year.

Jill Daniel, the CEO of Estuary Power, expressed pride over the project’s completion and its local impact. She noted that the construction of Escape Solar involved nearly 500 union laborers, thereby contributing to both local employment and economic development. "It brings immense satisfaction to see this project burgeon from mere identification of the site to actual operations in under two years, fueled by the collaborative efforts of our team and partners," said Daniel.

The collaboration has also seen favorable reactions from local officials. MeLisa Garcia, the Chief Executive Officer of Overton Power District No. 5, mentioned that the addition of the Escape project to their energy portfolio means not only a reduced cost in their energy supplies but also a boost to their renewable energy contributions. She highlighted this project’s importance in delivering stable rates to customers, building upon their established hydropower resources.

In alignment with corporate sustainability efforts, Eric Dominguez, Senior Vice President of Engineering and Asset Management at Caesars Entertainment, acknowledged the importance of incorporating more renewable energy into the company’s operations. As part of their broader carbon reduction initiatives, Caesars is pursuing multiple solar developments and endorsing the contract with Estuary Power as a means of minimizing their environmental footprint.

As if on cue with the launch, Estuary also announced the closure of additional financing to bolster the Escape project. This includes initial funding facilitated through a tax equity investment commitment by Morgan Stanley Renewables Inc., as well as a notable increase in the size of the project’s term loan, spearheaded by Denham Capital on behalf of its clients.

Morgan Stanley's Managing Director Jorge Iragorri expressed enthusiasm about partnering with Estuary Power, emphasizing their shared vision for a sustainable future. Similarly, Alberto Garcia from Denham Sustainable Infrastructure Credit conveyed excitement over the scaling of debt facilities and reaffirmed their commitment to supporting renewable energy project developments in the U.S.

Estuary Power is a dynamic developer of large-scale energy generation and storage projects, primarily located in the western United States. Notably, the company is a majority woman-owned business, drawing significant financial influence from the Ullico Infrastructure Fund, which boasts around $6.3 billion in assets and is largely powered by union pension funds that are supportive of Nevada unions at the site.

Construction work on the solar arrays at the Escape project has been undertaken by Bechtel Infrastructure and Power Corporation while the necessary upgrades to the substation and transmission infrastructure were executed by Dashiell Corporation. Tesla Inc. is responsible for supplying and installing the battery storage systems, while JinkoSolar is delivering the solar photovoltaic modules used in the project.

This newly operational project not only highlights Estuary Power's commitment to clean energy solutions but also underlines the growing significance of solar energy in Nevada's overall power supply landscape. For additional information concerning Estuary Power and its projects, interested parties can visit their official website at www.estuarypower.com or follow the company’s updates on LinkedIn.