in News Departments > New & Noteworthy
print the content item

AES Solar, the joint venture company of AES Corp. and Riverstone Holdings LLC, has completed three financings totaling $752 million. The capital is backing construction of the 266 MW Mount Signal project in California and a portfolio of three projects in France totaling 22.4 MW. The financing also provides AES Solar with a corporate revolving credit facility.

AES Solar says its global portfolio now totals more than 500 MW in operation or construction in seven countries.

The Mount Signal development (also known as Imperial Valley Solar 1, or IVS1) is located in Imperial County, Calif. Expected to be operational in early 2014, the facility will sell its output to San Diego Gas & Electric Co. via a long-term power purchase agreement. Mount Signal is being co-developed with 8minutenergy Renewables LLC.

The French portfolio, which totaled about $90 million, consists of a 12 MW parking-lot project near Toulouse; an 8.7 MW parking-lot project near Lyon; and a 1.7 MW ground-mount project also near Toulouse.

"The combination of these several financings demonstrates the breadth of AES Solar's business activities across markets, solar PV plant configurations and sizes," says Becky Cranna, CFO of AES Solar.

Hybrid Energy Innovations 2015

Surrette_id1409
Latest Top Stories

Solar Helps Sunrise Powerlink Reach 1 GW Transmission Milestone

The $1.9 billion transmission infrastructure project is key to the success of the solar and wind power projects in California's Imperial Valley.


New York Raises Solar Net-Metering Caps As Part Of An Energy Initiative

Gov. Andrew Cuomo announced five significant steps to help improve New York's grid, develop more localized access to energy and encourage new business models.


Co-op Solar Procurement: Exciting Opportunity Or Grounds For Turf War?

Despite promising growth in the utility sector, further procurement of solar on utility co-op systems could be stalled.


Colorado PUC Rejects Xcel Energy's Solar*Connect Subscription Program

Citing a lack of demand and concerns over pricing, Colorado regulators wasted little time in dismissing the utility's community solar proposal.


NextEra To Purchase Majority Stake In Hawaiian Electric In $4.3 Billion Deal

If approved by shareholders and regulators, the merger of NextEra and Hawaiian Electric Industries will produce one of North America's largest renewable energy companies.

Hybrid Energy Innovations 2015
Maynards_id1471