Swift Current Energy has secured a tax equity investment from tech giant Google for its 800 megawatts defined conditions (MWdc) (593MWac [megawatts alternating current]) Double Black Diamond Solar project in southern Illinois, US.
This move positions the project to be the largest solar initiative east of the Mississippi River.
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Google’s investment leverages the Inflation Reduction Act’s benefits, including energy communities and domestic content incentives.
Google Data Center Energy global head Amanda Peterson Corio stated: “As we work to responsibly grow our infrastructure, we need to partner with companies like Swift Current who understand the nuances of the energy markets where we operate and can help unlock new clean energy at a rate that matches the pace and scale of demand growth on electric grids today.”
The project, located 30 miles west of Springfield, Illinois, is currently under construction and set to commence commercial operations by early 2025.
Swift Current Energy, the project developer, will also serve as the long-term owner and operator.
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By GlobalDataFinancing for the construction phase was previously secured from Mitsubishi UFJ Financial Group, Societe Generale, Truist and ING.
At its peak, the project will employ 500 workers.
Swift Current has chosen McCarthy Building Companies as the engineering, procurement and construction (EPC) partner.
The project features First Solar modules, predominantly manufactured in the US, and solar trackers from US-based Nextracker.
Double Black Diamond Solar will provide significant benefits to the communities in Sangamon and Morgan counties.
It is expected to power 100,000 homes annually and reduce carbon emissions by approximately one million tonnes per year.
Constellation NewEnergy has agreed to purchase a portion of the energy and renewable energy certificates generated by the project.
Swift Current co-founder and CEO Eric Lammers stated: “Projects of Double Black Diamond Solar’s magnitude require innovative partnerships. We are delighted to join forces with Google on a ground-breaking structure that will support Double Black Diamond Solar and serve as a guide for other major projects to come.”
In November 2023, Swift Current Energy announced that its 197MW Castle Gap wind farm in Texas had commenced operations.
