Ørsted, JP Morgan close US$680 million financing for US solar and solar-plus-storage projects
- Admin
- May 29, 2024
- 1 min read
Danish power company Ørsted aims to have 2GW of solar capacity in operation in the US by the end of 2024. They closed a US$680 million tax equity financing with JP Morgan for a solar project and a solar-plus-storage project. The portfolio includes the Eleven Mile Solar Center in Arizona and the Sparta solar project in Texas. Ørsted expects both projects to be operational by 2024. They will also build the Sparta project alongside the Helena Energy Center, their first wind and solar project. The Eleven Mile project benefits from investment opportunities provided by the Inflation Reduction Act (IRA) in the US and includes tax credit transferability.
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