Renewable energy developer Avantus said its Aratina 1 solar-plus-storage project has entered commercial operation in California.
The 200-MW/500-MWh installation in Kern County has long-term power purchase agreements (PPAs) with Central Coast Community Energy (3CE) and Silicon Valley Clean Energy (SVCE), a pair of community choice aggregators.Avantus on July 20 said the company will have a controlling stake in Aratina 1 and will operate the facility
The company said the project is among several assets it will oversee as it expands from a clean energy developer to an independent power producer (IPP).”Aratina 1 coming online marks a major milestone for Avantus as an independent power producer, providing reliable clean power to California communities for decades to come,” said Cliff Graham, CEO of Avantus. “I’m incredibly proud of what Team Avantus built here. Their expertise across development, construction, financing and operations, and the trust our financing and CCA partners have placed in us, are the foundation we’re building our long-term IPP model on.””The Aratina project is a powerful example of how community choice energy turns climate goals into real projects on the ground,” said Robert Shaw, CEO of 3CE. “Our long-term commitment to 120 MW from this facility will deliver clean, affordable power to our customers while supporting California’s transition away from fossil fuels. We’re grateful to partner with Avantus on a project that strengthens grid reliability and invests in the Central Coast’s clean energy future.” Financing Package Avantus said a consortium of lenders, including Sumitomo Mitsui Banking Corp., Truist Securities, ING Capital, and Mizuho, provided financing of more than $500 million for Aratina 1.
The project also secured a $300-million tax equity commitment from Truist Bank. Officials said the project created about 500 jobs at peak construction.”The clean power generated from the Aratina project gets us one step closer to our climate goals….