Intersect Power has announced the commercial operation of its 828 MWp/640 MWac Lumina Solar project, located in Scurry County, Texas. Built with First Solar panels, the project created more than 900 jobs at peak construction, according to the company.
Intersect now has a fully operational base portfolio of 2.2 GW of solar PV and 1.4 GWh of co-located storage in Texas and California.
“Renewable energy is a critical piece of the overall American energy production story and Texas continues to lead the way in development and production,” said Sheldon Kimber, Intersect Power’s CEO. “We are proud to own and operate our now fully operational 2.2 gigawatt solar + 1.4 gigawatt hour 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.”
Renewable energy credits generated by the Lumina project will be purchased by two Fortune 100 companies, Intersect Power said. Funding for the project’s construction and operations was secured as part of the broader portfolio financing announced in September 2022, when Intersect Power closed on portfolio-level term debt, tax equity, and construction financing commitments from leading financial institutions and investors. The company closed $2.4 billion of financing commitments and allocated $675 million of previously announced commitments to build and operate four solar energy projects totaling 1.5 GW PV + 1.0 GWh BESS.
Last June, Intersect Power secured an $800 million revolving credit line to support its development pipeline of renewable energy, energy storage, and green hydrogen projects, the company announced. The loan includes a Green Financing Framework that adheres to the 2023 LSTA Green Loan Principles and ICMA Green Bond Principles.
In November 2023, Intersect Power announced the commercial operation of its Oberon Solar + Storage project, located in Riverside County, California, with 679 MWp/500 MWac of solar energy and 250 MW/1 GWh of co-located storage. The project was built with First Solar modules from Ohio, NX Horizon smart solar trackers from Nextracker, and American-made structural steel.