Arevon Energy has secured financing for its 157 MW and 150 MW/600 MWh Vikings solar-plus-storage project in California, developed for San Diego Community Power. J.P. Morgan provided $191 million in tax credits, while MUFG, BNP Paribas, Sumitomo Mitsui Banking Corp., and First Citizens Bank offered $338 million in debt financing via the Inflation Reduction Act’s tax credit transferability provision.
IRS’s transferability provision boosts solar projects
The project features components from U.S. manufacturers, such as First Solar, Nextracker, and Tesla. Illustration by Arevon Energy.
Aiming to support Malaysia’s 31% renewable goal by 2025, Masdar’s study could pave the way for large-scale floating solar in Southeast Asia. (Image Source: Masdar)
Businesses can now develop rooftop solar under 100 kW without planning requirements, simplifying expansion for small-scale adopters. (Image Source: Vietnam.VN)
Avangrid’s Camino Solar project will generate power for approximately 14,000 US homes and is expected to create $15 million in local tax revenue. (Image Source: Avangrid)
Poland’s solar sector is set to benefit from Suntech’s advanced TOPCon modules under a new 200 MW distribution partnership. (Image Source: Suntech/ Linkedin)