Origis Energy Moves Forward with California Solar and Storage Project Financing
Origis Energy has secured $118 million in tax equity financing from RBC Community Investments to support the development of the Chalan Solar + Storage project in Kern County, California.
The project will feature a 65 MWac solar facility paired with a 25 MW / 100 MWh battery energy storage system. It is expected to reach commercial operation in the fourth quarter of 2026.
Once operational, the project’s output will be delivered under a 20-year power purchase agreement with Pioneer Community Energy, a not-for-profit community choice electricity provider serving customers in Placer and El Dorado counties.
Alice Heathcote, Chief Financial Officer of Origis Energy, said: “We are delighted to partner with RBC to bring another high-quality solar and storage project to the grid and deliver reliable, cost-effective clean energy to Pioneer’s customers and communities.” She added that the transaction “underscores the strength of our platform… and our ability to attract top-tier capital partners.”
Jonathan Cheng, Managing Director and Head of RBC’s Renewable Energy Tax Equity Investments, said: “RBC’s investment… demonstrates our longstanding and continued commitment to the clean energy transition.”
Origis Energy will construct, own, and operate the project as part of its broader renewable energy portfolio in the United States.
Source: origisenergy.com