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Estuary Power launches Escape Solar and secures major additional financing

Estuary Power commissions the Escape Solar and Storage project in Nevada, integrating 185 megawatts of solar capacity and securing enhanced financing from institutional investors to supply electricity to several major players in the leisure sector.

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Estuary Power has begun operations at its Escape Solar and Storage project located in Lincoln County, Nevada. This project combines 185 megawatts of solar capacity and 400 megawatt-hours of battery storage, developed, constructed, and owned by Estuary Power. The first phase, representing 70 megawatts of solar capacity, is already supplying power to Overton Power District No. 5, Caesars Entertainment, and Wynn Las Vegas under long-term power purchase agreements.

Progressive deployment and strategic contracts

The second phase of the project will see the addition of 115 megawatts of solar capacity and 400 megawatt-hours of battery storage, intended to supply MGM Resorts International later this year. The entire Escape Solar and Storage project is based on an accelerated timeline, with the first phase completed in less than two years from site selection to operational start.

Local employment and union participation

Escape Solar and Storage has created nearly 500 union construction jobs. Pension funds from several local unions, invested in Estuary Power through the Ullico Infrastructure Fund, are directly participating in this development. Teams from the International Brotherhood of Electrical Workers Locals 357, Operating Engineers Local 12, and Laborers’ International Union of North America Local 872 have been mobilized for the construction.

Strengthened financing and industrial partners

Estuary Power has secured a new round of financing, including a capital injection through a tax equity investment by Morgan Stanley Renewables Inc., as well as an upsizing of the long-term loan arranged by Denham Capital on behalf of its institutional clients. The construction of the solar facilities has been entrusted to Bechtel Infrastructure and Power Corporation. Battery storage equipment is supplied and installed by Tesla, Inc., while JinkoSolar delivers the TOPCon photovoltaic modules. Work on the substation and network upgrades has been carried out by Dashiell Corporation.

Estuary Power’s CEO emphasized the company’s commitment to developing energy projects with regional economic benefits. Overton Power District No. 5, one of the first beneficiaries of the project, stated that the addition of this renewable resource will enhance rate stability for its customers. Caesars Entertainment, also a recipient of the produced energy, continues its strategy of integrating long-term power purchase agreements to diversify its energy portfolio.

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