The four solar PV projects will have 1.5GWdc of capacity, while the BESS projects’ total capacity will amount to 1GWh.
Intersect Power has also announced the allocation of $675m of previously announced commitments for developing and operating these projects.
The company said that the four projects – Lumina I, Lumina II, Oberon I and Oberon II – are scheduled to come online next year.
The Lumina I and II projects are being developed in Texas and will have around 840MWp of capacity, while Oberon I and II are developed in California with around 685MWp of capacity.
Oberon I and II will also include 1,000MWh of BESS capacity.
The projects are part of Intersect Power’s late-stage portfolio, which amounts to 2.2GW of capacity with 1.4GWh of storage.
Intersect Power CEO Sheldon Kimber said: “These closings culminate a multi-year process raising more than $6bn to build out one of the largest solar and storage portfolios our country has seen to date, which serves as a platform for future growth into green hydrogen and other decarbonisation technologies.
“The strength of our partnerships and collective teams’ determination further validates our path to decarbonise the hard-to-reach corners of the economy.”
The company said that the transactions represent construction financing, tax equity and operational letters of credit (LoCs), as well as a portion of previously announced portfolio level term debt with partners.
For nearly $1.6bn in construction financing, MUFG and Santander served as co-lead arrangers while NORD/LB , KeyBanc Capital Markets , Helaba , CoBank, Bank of America and Zions Bancorporation served as joint lead arrangers.
The operational LoCs for the Oberon I and II and Lumina II projects were provided by CoBank ACB.