US solar developer Pristine Sun Corporation has secured financing to develop up to 5GW of PV projects. The US$250m (€232.6m) capital commitment from comes from strategic private equity and family office investors. The equity commitment will allow Pristine Sun to develop, finance, and build solar projects, depending on the capital stack structure. The capital commitment will support Pristine Sun on proposed and active renewable-energy projects in Texas, California, and Louisiana, and allow the company to explore additional opportunities in the continental US. Since 1996, Pristine Sun and affiliates have developed solar and wind farms totalling over 25GW (including projects sold to other parties), with another 20GW of projects in the pipeline. Founder and chairman of Pristine Sun Corporation Troy Helming said: “We’re thrilled to have this capital commitment.
“We have an aggressive plan to rapidly develop significant solar projects in California, Texas, and Louisiana. “Three projects will exceed 1GW, making them some of the largest in the world. 1GW is about the capacity of two to three large coal or natural gas plants. “US$250m will allow us to develop, construct, and operate these projects to power hundreds of thousands of homes and businesses with clean energy. “The demand for low-cost renewable energy has never been greater, and we’re delighted to continue as a leader in the clean power revolution.”
Credits: renews.biz [Image: Red Zeppelin UVGE/Unsplash ]