Swift Current Energy, a utility-scale solar, wind, and energy storage project developer, announced the closing of tax equity financing with PNC Bank for its 138 MWdc (99 MWac) Harvest Gold Solar Project in Sunflower County, Mississippi. The solar project has already begun its operation this summer, producing clean electricity enough to power over 23,000 households per Swift Current Energy.
Target Corporation is purchasing 100% of the electricity and renewable energy credits produced by the Harvest Gold solar project. Swift Current Energy is the long-term owner and operator of the project.
Moss provided engineering procurement construction services for the project, which features First Solar’s domestically manufactured solar modules and is expected to provide over $1.4 million per year in tax revenue to Sunflower County and its public schools during its operational life, according to the company.
In August, the company also secured tax equity investment from Google to develop an 800 MWdc (593 MWac) Double Black Diamond solar project in southern Illinois. The project is currently under construction and is expected to reach commercial operations by early 2025.
Eric Lammers, CEO and Co-Founder of Swift Current, said, “We are thrilled to complete development and start operations on our first project in Mississippi. The Swift Current team takes pride in how we have developed Harvest Gold, forming relationships in Sunflower County that will continue through operations of the project. We thank Target for their continued partnership on our projects, and we’re pleased to receive strategic financing from PNC Bank.”
According to Mercom’s 9M and Q3 2024 Solar Funding and M&A report, large-scale project funding in the 9M 2024 totaled $34.3 billion in 180 deals, up from $27.5 billion in 169 deals in 9M 2023.
This week, AMPYR Solar Europe, a European solar project developer, secured financial closure for its 96 MW solar project in the municipality of Noordoostpolder in the Netherlands. The project is expected to be operational by mid-2025.
