Enlight Renewable Energy Secures $337 Million Tax Equity Funding for 290 MW Roadrunner Solar and Storage Project in Arizona
Reuters
Sep 29
Enlight Renewable Energy Secures $337 Million Tax Equity Funding for 290 MW Roadrunner Solar and Storage Project in Arizona
Enlight Renewable Energy Ltd. has announced the closing of tax equity partnership agreements for its Roadrunner Solar and Energy Storage Project, located near Tucson, Arizona. The project, developed through Enlight's subsidiary Clenera Holdings, LLC, includes 290 MW of solar generation and 940 MWh of energy storage capacity. JP Morgan Chase will provide tax equity for the solar component, while M&T Community & Environmental Development and First-Citizens Bank & Trust Company will support the storage component. Upon the project's commercial operation date, the tax equity partners will invest a total of $337 million, with an additional $55 million expected over the first 10 years through pay-go payments. Roadrunner is anticipated to achieve full commercial operation by the end of 2025 and will benefit from Production Tax Credits for solar, Investment Tax Credits for storage, and a 10% Energy Community bonus tax credit. The total project cost is estimated at $621 million.
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