BayWa r.e. Moving Forward With California Solar-Plus-Storage Project

Core Insights - BayWa r.e. has secured financing for the Jacumba Valley Ranch (JVR) Energy Park, a solar-plus-storage project in San Diego County, California, with total funding commitments of approximately $416 million [1] - The JVR facility will feature 90 MWac/127 MWdc of solar capacity and 70 MWac/280 MWh of battery storage, expected to commence commercial operations in 2026 [1] - The project is considered one of Southern California's significant renewable energy infrastructure investments and will supply power through San Diego Community Power [1] Financial and Investment Details - The financing includes a construction-to-term loan facility led by Société Générale and preferred equity investments from Wafra Inc. and Acadia Infrastructure Capital, L.P. [1] - Wafra's investment aims to provide creative capital solutions for large-scale power projects [1] - The project has a signed tax credit transfer agreement with a large, unnamed corporate buyer [1] Economic and Community Impact - Construction of the JVR Energy Park is expected to create over 350 union construction jobs and long-term operational roles [1] - BayWa r.e. has committed $4 million in direct investment to the Jacumba Valley area, guided by local community input [1] - The project includes a fire protection agreement designating land for a new fire station and a 435-acre biological open space easement, avoiding sensitive habitats [1]