Global private asset management company Capital Dynamics and solar and storage developer 8minute Solar Energy have acquired 300MWac/387MWdc Eagle Shadow Mountain solar project in the US.
Eagle Shadow Mountain is located near Clark County in Nevada and is scheduled to be completed by the end of next year.
The solar project is the first of two clean energy projects awarded to 8minute to develop and deploy.
8minute Solar Energy CEO Tom Buttgenbach said: “It is an honour to be collaborating with the Moapa Band of Paiutes on this project.
“With a proven track record of on-time, on-budget delivery, 8minute is confident that Eagle Shadow Mountain be a lifelong asset to the Moapa River Indian Reservation community, and we are grateful to Capital Dynamics for their contribution to making it happen.”
During the construction phase, the project is expected to create up to 400 new employment opportunities.
Once completed, the Eagle Shadow Mountain project is expected to have an annual generating capacity of over 900,000MWh of clean electricity.
The energy generated by the project will be supplied to NV Energy under a long-term power purchase agreement (PPA) for the municipality’s coverage area of 44,000m² with 2.4 million customers.
Capital Dynamics Clean Energy Infrastructure (CEI) team managing director Benoit Allehaut said: “The Eagle Shadow Mountain project marks our third transaction with 8minute and further strengthens our partnership with the country’s most sought-after clean energy developer.”
Eagle Shadow Mountain project acquisition would increase Capital Dynamics CEI’s global portfolio to approximately 6.1GWdc of gross power generation and 8minute’s national portfolio to more than 15GW of solar PV and storage under development.
The companies have not disclosed the financial details of the acquisition.
In December 2018, 8minutenergy and Capital Dynamics announced the completion and start of commercial operation of the 328MW Mount Signal 3 solar farm in California, US.