New Hybrid Project in Nevada
Estuary Power Secures $340 Million for Escape Solar and Storage Project in Nevada. Estuary Power, a renewable energy and storage development company, has closed a $340 million financing package for the Escape Solar and Storage project in Lincoln County, Nevada. The investment includes a 185 MW photovoltaic installation and a 400 MWh energy storage system.
Project Partners and Financing
The Escape project was funded with support from several financial institutions. Morgan Stanley Renewables provided a tax equity commitment, while First Citizens Bank & Trust Company, Norddeutsche Landesbank Girozentrale, and National Bank of Canada supplied a tax credit loan. Long-term construction financing was secured by Denham Capital on behalf of its clients.
The Solar-Plus-Storage project involves collaboration with leading technology partners. Tesla is supplying the energy storage system, JinkoSolar is providing TOPCon photovoltaic modules, and Bechtel Infrastructure and Power Corporation is handling the solar farm’s construction.
Jill Daniel, President of Estuary Power, expressed gratitude to the partners and her team for their efforts:
“I am incredibly proud of the Estuary Power team for developing the Escape project with quality and integrity. We appreciate the trust of our clients, who entrust us with achieving their sustainability goals.”
Energy Delivery to Nevada Clients
Once construction is completed, slated for the third quarter of 2025, the installation will deliver energy to four key clients in Nevada under long-term Power Purchase Agreements (PPAs). MGM Resorts International will receive 115 MW of solar energy and 400 MWh of storage capacity. Overton Power District and Caesars Entertainment will each receive 25 MW, while Wynn Las Vegas will get the remaining 20 MW.
Impact on Local Economy and Environment
The solar farm will involve the installation of approximately 389,000 photovoltaic panels over 900 acres. Bifacial modules will be used to maximize solar absorption. The project is expected to generate significant economic benefits for the local community, including approximately $80 million in tax revenue for Lincoln County over its lifetime.
The Escape project joins other significant developments such as the Gemini Solar and Storage (690 MW/1,400 MWh) and Purple Sage Energy Center (400 MW/1.6 GWh), further underscoring the growing importance of this sector in the region.
Source: energytech.com