BayWa r.e., a renewable energy project developer, secured financing for the Jacumba Valley Ranch (JVR) Energy Park, which includes 90 MWac/127 MWdc solar and 70 MWac/280 MWh battery energy storage capacity located in Southeastern San Diego County, California.
The project is currently under construction following the recent groundbreaking, marking the issuance of full notice to proceed under the construction agreement. The project is expected to be operational in fall 2026, supplying electricity to approximately 57,000 households through San Diego Community Power.
The project secured a construction-to-term loan facility led by Société Générale as well as a preferred equity investment from funds managed by Wafra, a New York-based global alternative investment manager. Acadia Infrastructure Capital, a North American power infrastructure investment manager, invested preferred equity in the project alongside Wafra. Overall funding commitments total around $416 million.
Additionally, the project also signed a tax credit transfer agreement with a large corporate buyer. The JVR Energy Park is expected to create more than 350 construction jobs through project labor agreements.
“Our investment in JVR Energy Park demonstrates Wafra’s ability to deliver creative capital solutions that advance large-scale power solutions,” said Anthony Peek, Managing Director at Wafra. “We’re proud to partner with BayWa r.e. Americas on a structure that advances both financial and community outcomes in the San Diego area,” added Ben Droz, Director at Acadia.
In July 2025, the company sold a 60 MWp solar project portfolio in Spain to KGAL Investment Management. The portfolio includes two operational solar projects located in the municipality of Guillena, Seville.
According to Mercom’s 9M and Q3 2025 Solar Funding and M&A report, large-scale project funding increased by 43% in the first nine months of 2025 compared with the same period in 2024.
