US-based renewable energy company Intersect Power has commenced operations at the Lumina Solar project in Scurry County, Texas.
With 828 megawatts peak (MWp)/640 megawatts alternating current capacity, the solar project features First Solar’s photovoltaic panels.
The Lumina project generates enough clean electricity to supply 243,000 homes annually.
Two Fortune 100 companies have committed to purchasing renewable energy credits from the project.
During its peak construction period, 900 jobs were created.
The company secured funding for the project in September 2022 through broad portfolio financing with the assistance of HPS Investment Partners and other co-investors.
US Bancorp Impact Finance and two Fortune 100 companies provided the tax equity and construction debt was offered by MUFG and Santander, with support from CoBank, KeyBanc Capital Markets, Bank of America, Helaba and Nord/LB.
It obtained a total of $2.4bn, earmarked for the development of four solar projects totalling 1.5GW and a one gigawatt-hour (GWh) battery energy storage system portfolio.
Intersect Power CEO Sheldon Kimber stated: “Renewable energy is a critical piece of the overall American energy production story and Texas continues to lead the way in development and production.
“We are proud to own and operate our now fully operational 2.2GW solar plus 1.4GWh storage portfolio in Texas and California, which has helped drive significant economic development and job creation while bringing energy security and independence to our country.”
In November 2023, Intersect began operation at its 679MW Oberon solar plus storage project in Riverside County, California.
The Oberon solar project has a co-located 250MW/1GWh energy storage system and generates enough clean energy to supply 207,000 US households annually.
