Solar Alliance growing 56-MW solar + storage venture for Illinois knowledge heart
Solar Alliance Energy signed a letter of intent with Green Data Center Real Estate on Monday to plan and build a 56 MW solar project in Illinois. The project will include battery storage functions and generator-based emergency power supply.
The capital cost for the solar portion of the project is expected to be approximately $ 60 million. Green Data is responsible for brokering project capital and debt, and Solar Alliance has the option to allocate up to 10% of the project capital.
“We are proud to partner with Green Data Center Real Estate on this exciting project that illustrates the value of our growing portfolio of solar projects,” said CEO Myke Clark. “Green data is at the forefront of the growing wave of data centers with hyper-scale technology powered by renewable energies. This 56 MW project will offset a significant portion of their energy needs and create jobs and opportunities in Illinois. Solar Alliance has worked diligently to grow our microgrid and utility business and this project is an incredible opportunity to scale quickly with a great partner. The option to provide equity for partial participation in the project also fits well with our stated goal of building a portfolio of projects that will generate long-term sources of income for Solar Alliance. “
Preliminary planning work is expected to begin in the first half of 2021, with a decision to complete a construction schedule as part of this process. The project is expected to generate margins on the company’s other large solar projects.
The final project size and capital cost will be determined as part of the design process and a final construction agreement will be negotiated in advance. A payment plan is part of the final building agreement and will be announced upon execution. The advancement of the project depends on the design and construction goals as well as the final approval of green data and completion of the financing with solar investment tax equity.
“Green Data is excited to continue our close relationship with the Solar Alliance as we expand our portfolio of renewable energy data centers across America,” said Sean Stofer, COO of Green Data. “Renewable energies are the key to sustainable data and we continue to challenge the limits of solar and battery backup for our centers. Working with Solar Alliance on our Murphysboro project has been excellent and we have been impressed with the knowledge and experience they bring to the project. This next project, a upscaled tech hub for data centers with a solar capacity of 56 MW, will be a flagship for both companies. The combination of solar and battery backup with the electrical requirements of a data center is complex and we are grateful to be working with such a competent partner on this next endeavor. “
This is the second data center project that Solar Alliance is pursuing with green data. On October 28, 2020, the company signed a design agreement to begin design work on a 4.57MW ground and roof mounted solar project at a 10MW data center in Murphysboro, Illinois, owned by Green Data. The solar system design work will continue and will be completed in parallel with the final design work for the data center.
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