Swift Current Energy, a US renewable energy developer has received a tax equity investment from Google for its 800 MWdc Double Black Diamond solar PV project in the state of US Illinois.
This 800 MW project will be the biggest solar installation in the east of the Mississippi River and is a major move for the tech giant in the U.S. energy market.
The plant has begun its construction now and is expected to start working in early 2025.
This investment has given advantages from the Inflation Reduction Act, including Energy Communities and domestic content incentives.
Energy communities include those areas that struggle with moving away from fossil fuels, like cities that have high unemployment rates.
The domestic content adder is a 10% bonus on tax credits for developers who build solar, wind, or battery storage projects using U.S.-made parts, on top of the standard 30% investment tax credit.
Amanda Peterson Corio global head of Google Data Center Energy said, “As we work to responsibly grow our infrastructure, we need to partner with companies like Swift Current who understand the nuances of the energy markets where we operate and can help unlock new clean energy at a rate that matches the pace and scale of demand growth on electric grids today.”
Source :
https://www.power-technology.com/news/swift-current-energy-financing-google/?cf-view
