Commercial, Solar, Sourcing Renewables - January 14, 2021
Green Data Center Real Estate signs letter of intent for 56-MW solar project
Green Data Center Real Estate announced on Jan. 5 that it signed a letter of intent for a 56-MW solar project to power a data center in Illinois. The project will include battery storage capabilities and generator-based backup power. Preliminary design work is expected to begin in the first half of 2021.
This is the second data center project Solar Alliance is pursuing with Green Data. Last October, the company signed an agreement to commence design work on a 4.57-MW ground and roof-mount solar project at a 10-MW hyperscale data center also in Illinois owned by Green Data.
“Renewable energy is the key to sustainable data and we are continuing to challenge the limits of solar and battery backup for our centers,” Green Data COO Sean Stofer said in a statement. “This next project...will be a flagship for both companies. Combining solar and battery backup with the electrical requirements of a data center is complex and we are grateful to work with such a competent partner on this next endeavor.
The project is expected to generate margins in the range of the company’s other large-scale solar projects. The capital cost of the solar portion of the project is expected to be approximately $60 million. Under the terms of the agreement, Green Data is responsible for arranging project equity and debt and Solar Alliance has an option to provide up to 10% of the project equity. Advancement of the project is dependent on the design and engineering targets and the final approval of Green Data and the completion of financing with solar investment tax equity.
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