EDFR’s Desert Quartzite solar plus storage project moved one step closer to construction after successfully closing financing. This thrilling news is located in Riverside County, California. This project is a huge breakthrough for renewable energy development. It has a solar generation capacity of 375 megawatts direct current (MWdc) as well as a co-located battery energy storage system (BESS) with a capacity of 150 megawatts alternating current (MWac), with a four-hour duration.
This structure with this explicit purpose and goal is indeed dramatic. It represents EDF Renewables’ first project of this type, utilizing project leverage in the United States in more than a decade. In August 2024, Power Sustainable Energy Infrastructure (PSEI) announced the closing of the first funding tranche of its strategic investment. This investment is targeted toward the Desert Quartzite project. This collaboration further illustrates a tremendous and increasing dedication to sustainable energy solutions.
When it came online in late December 2024, the project carried enough electricity to power 64,000 homes through the Clean Power Alliance’s grid. The Clean Power Alliance serves 35 communities across Los Angeles and Ventura Counties, enhancing local access to renewable energy resources. In September 2024, EDF Renewables North America finalized a 20-year Power Purchase Agreement (PPA) with the Omaha Public Power District (OPPD). This deal shows that they’re dedicated to bringing long-term, renewable energy solutions to areas like this one.
In doing so, EDF Renewables North America adds to the rapidly growing, and frankly impressive, portfolio. It now has 23 GW of successfully finished projects completed, with an additional 16 GW of projects in service agreements. Over a dozen local, state, and national institutions funded Desert Quartzite’s long-term debt. Joint lead arrangers from this group are KfW IPEX-Bank, MUFG Bank, Export Development Canada and the Korea Development Bank, with four other participating banks.