In another in a long line of decisions putting spite ahead of concerns over increasing power prices, the Trump administration has quietly killed a massive solar project championed by former President Joe Biden. A Bureau of Land Management webpage providing updates on the progress of Esmeralda Seven Solar—a 6.2 gigawatt (GW) installation in rural Nevada—now states that the endeavor is cancelled, without further context. If built to full spec, the site would’ve been one of the largest power plants in the United States, comparable to the Grand Coulee Dam (about 6.8 GW).
Of course, this should come as no surprise to anyone following the actions of Trump 2.0’s offices. Solar, if you haven’t heard by now, is a big ‘scam’- and it must be a really good one, too, considering so many utilities, states, and hyperscalers continue to fall for it and pursue clean energy projects regardless of federal sentiment and a looming tax incentive rugpull.
If you can think of another use for 62,000 acres of desert wasteland superior to providing clean power to millions of homes and businesses, please enlighten me. And while you’re at it, take any lingering ‘American energy dominance’ rhetoric somewhere else, because I don’t buy it for a second. Those are just words, and the actions of the administration show they have no intention of ‘winning the AI race’ or being dominant in anything other than shooting itself in the foot, repeatedly, at the expense of Americans coast to coast.
“The president doesn’t like windmills” is not even close to being a valid reason to sabotage an entire industry; “The sun doesn’t always shine” is how a six-year-old thinks about solar power.
Clean energy is not just a part of our future- it is the only future, and the longer we wait to catch up to China (and Europe in many respects, quite frankly), the worse off we’ll be for it.
Fortunately, scores of developers, equipment providers, and financiers can see where we’re headed, as encapsulated each Friday in this neat little digest of project updates and money maneuverings. If you want to see something here, email it to me. And until next time, may your avocados stay ripe, your beverage remain cold, and your base hits down the left field line roll into the corner. Be good, people.
Arevon Starts Up Solar Operations in Indiana
Developer, owner, and operator Arevon Energy announced this week that operations are underway at its Ratts 1 and Heirloom Solar projects in Pike County, Indiana. Together, the projects add 264 megawatts (MWdc) to the grid and are the company’s first owned and operational utility-scale projects in the Hoosier State.
Ratts 1 and Heirloom represent an investment of nearly $400 million and will disburse more than $86 million to local governments over their lifespans, supporting schools, infrastructure, and other essential public services. The two facilities employed more than 200 full-time equivalent personnel to build the projects. Ratts 1 Solar is under a long-term power purchase agreement with Indiana Municipal Power Agency (IMPA), and hyperscaler Meta is the offtaker for Heirloom Solar.
“Ratts 1 and Heirloom are about more than megawatts — they are tangible illustrations of the positive and real impact renewable energy can bring to local communities,” said Arevon CEO Kevin Smith. “These facilities will produce American-made power for decades, while also supporting Pike County’s economy and quality of life. Arevon is proud to be a long-term partner here, as we continue to invest in Indiana’s future.”
“Pike County is an energy community, and renewable energy sources are a piece of our diversified energy strategy. We are grateful for Arevon’s investment in our area,” added Ashley Willis, MPA, EDFP, Executive Director at the Pike County Economic Development Corporation. “Solar power is a wonderful asset for rural communities, like Pike County, to increase assessed value and has had a positive impact on our tax revenue for our taxing districts.”
Arevon, which owns and operates more than 5.5 gigawatts (GW) of solar and energy storage projects across 17 states, is actively growing its portfolio in the Midwest. Besides Ratts 1 and Heirloom, the company is currently constructing the two-phase 430 MWdc Kelso Solar Project in Missouri, and developed and managed the construction of the 251 MWdc Gibson Solar Project in Indiana on behalf of Northern Indiana Public Service Company (NIPSCO), and the 228 MWdc Posey Solar Project in Indiana on behalf of Southern Indiana Gas and Electric Company.
Base Power Raises A Billion Bucks
Typical fundraising announcements on this website rarely include a corresponding dollar value starting with the letter ‘B,’ but that should tell you how hot energy storage is right now.
Texas-based distributed storage pioneer Base Power announced Wednesday that it has raised $1 billion in Series C financing, led by Addition. All other major investors in the round are re-investing, including: Trust Ventures, Valor Equity Partners, Thrive Capital, Lightspeed, Andreessen Horowitz, Altimeter, StepStone, Elad Gil, 137 Ventures, Terrain, and Waybury. New major investors include Ribbit, CapitalG, Spark, BOND, Lowercarbon, Avenir, Glade Brook, Positive Sum, and 1789.
“The chance to reinvent our power system comes once in a generation,” stated Zach Dell, CEO and co-founder of Base Power. “The challenge ahead requires the best engineers and operators to solve it, and we’re scaling the team to make our abundant energy future a reality.”
In less than two years, Base Power has deployed more than 100 MWh of residential battery capacity, making it one of the fastest-scaling distributed energy platforms in the country. The company has also partnered with homebuilder Lennar and several utilities on virtual power plants, recently qualifying for Texas’s Aggregated Distributed Energy Resource (ADER) program, which allows distributed batteries to be combined and bid directly into the grid.
Base Power is building its first energy storage and power electronics factory at the site of the former Austin American-Statesman printing press in the heart of downtown Austin.
Doral Finds Offtaker for Cold Creek Solar
Utility-scale developer and independent power producer Doral Renewables has executed a power purchase agreement (PPA) with a corporate buyer for its 430 MWac Cold Creek Solar Project located in Schleicher and Tom Green Counties, Texas. The Agreement covers 75% of the facility’s energy output and 100% of the associated Renewable Energy Credits (RECs). The Cold Creek Solar project is expected to deliver over 1 million MWh annually.
Cold Creek Solar is expected to deliver over 1 million MWh annually. The project will boost local infrastructure and community impact initiatives, such as road improvements and emergency responders, as part of its community engagement. The project also supported a local non-profit during a recent summer flooding emergency.
“Our ability to work with top companies and utilities is a testament to our business plan and commitment to new renewable energy projects across the United States,” said Sean Boyle, Vice President, Markets of Doral Renewables. “This new relationship is a substantial accomplishment and a foundational agreement as Doral continues to expand its operating portfolio across the country”.
The transaction increases the company’s contracted energy generation to more than 1.6 GW in total.
Nexamp Scores $330 Million Construction Warehouse Facility
Distributed solar and storage solutions company Nexamp announced the closing of a three-year, $330 million Construction Warehouse Facility (CWF) with a consortium of leading financial institutions. The financing will enable Nexamp to develop, construct, and finance a revolving portfolio of approximately 20 new distributed generation assets, advancing the company’s mission to address increased energy demand with reliable, affordable domestic resources.
The CWF provides flexible construction capital to support Nexamp’s near-term pipeline of solar and energy storage projects. Once completed, these assets are expected to transition into long-term financing structures, including tax equity funding or refinancing, ensuring sustainable growth and deployment of renewable energy infrastructure nationwide.
MUFG committed $200 million as the largest lender in the facility, also serving as Mandated Lead Arranger and Administrative Agent. ING followed with a $100 million allocation and additional responsibilities as Mandated Lead Arranger, Lender, Hedge Provider, and Green Loan Structuring Agent. Siemens Financial Services contributed $30 million as Joint Lead Arranger. U.S. Bank National Association acted as Collateral Agent.
Zaid Ashai, CEO of Nexamp, said the transaction marks a pivotal moment in the company’s expansion.
“By securing flexible construction capital, we are better positioned to deliver the clean energy projects that communities across the country urgently need as demand rises. Solar continues to be the most cost-effective and easy-to-deploy source of new electricity, outpacing all other sources by a wide margin already this year,” Ashai explained.
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Nightpeak Fires up 150 MW Texas Battery
Do-it-all developer and operator Nightpeak Energy announced last Friday that Bocanova Power, a 150 MW, 2-hour duration battery storage project located in Brazoria County, Texas, is now operating. Located 24 miles south of downtown Houston, Bocanova Power reached commercial operation in August 2025 and is now providing quick responding, flexible power to support the Houston region’s peak capacity needs.
Bocanova Power utilizes Tesla’s Megapack 2 XL battery storage systems manufactured in Lathrop, California. The facility operates under a long-term power purchase agreement with an investment-grade power purchaser, unnamed by the company. Nord/LB and MUFG Bank served as co-lead arrangers on the debt financing, which included a tax equity bridge loan, construction to term loan, and letters of credit. Traditional tax equity partnership financing was also utilized for this transaction.
“We submitted an interconnection request for Bocanova Power in mid-2023 and just two years later, this 150 MW project is providing flexible, dispatchable capacity to the Texas grid. Bocanova Power demonstrates the speed at which Nightpeak Energy is overcoming complex challenges to energize projects that support America’s growing need for affordable, reliable, and secure energy,” noted Paris Hays, co-founder and CEO/CDO of Nightpeak Energy.
Nightpeak says its focus is on developing projects in the Western United States and Texas specifically, where the rapid growth of intermittent renewable energy resources has created a significant need for flexible, dispatchable generation assets.
NineDot Lands $175 Million Debt Facility
Northeast community-scale battery energy storage systems developer Ninedot has completed a $175 million revolving debt financing from Deutsche Bank.
The company will use the financing to support activities across its development timeline, from grid interconnection deposits to equipment procurement and project construction. NineDot supports a vision for broad, distributed energy storage throughout New York City, in alignment with New York State’s goal of having 6000 megawatts of battery storage in operation by 2030. The facility also enabled NineDot to pay back its existing revolver for funding grid interconnection deposits with NY Green Bank.
“NineDot’s mission is to create innovative urban energy solutions for a cleaner and more sustainable future, and battery storage is a key part of that for New York City,” said David Arfin, NineDot Energy CEO and co-founder. “With seven projects operating during this past hot summer, we’ve proven that we can deliver safe and reliable energy solutions in a dense urban area. Our next step is to accelerate our growth and scale our business, and Deutsche Bank recognized the importance of and opportunity in our approach.”
NineDot Energy currently has seven operating projects across four locations in The Bronx and Staten Island. These projects recently supported approximately 26,000 New York City households on hot summer days. With more than 60 additional projects in some phase of development or construction, NineDot remains on target to achieve its goal of having 400 MW in development, construction, or operation by the end of 2026.
