Capital Dynamics and 8minute Solar Energy to Announce Completion of the 121 Megawatt-dc Springbok 3 Solar Farm

Capital Dynamics, an independent global private asset management firm, and 8minute Solar Energy (“8minute”), the largest independent solar and storage developer in the U.S., today announced the completion and commercial operation of the 121 megawatt-dc Springbok 3 Solar Farm (“Springbok 3”). Springbok 3 is the third and final phase in the Springbok cluster – a 448 MWdc solar development in Kern County, California and one of the largest solar developments in the world. The project includes a 1.5 MWh Li-Ion system battery, the first battery system used at a Capital Dynamic’s solar project. Capital Dynamics acquired a majority interest in the project from 8minute in September 2018.

Springbok 3 has a long term power purchase agreement (PPA) in place with the Southern California Public Power Authority (SCPPA) on behalf of its participating member, the Los Angeles Department of Water and Power (LADWP). This joint power authority aggregates southern California power demand to purchase and finance energy and assets at competitive prices for its member municipalities and irrigation districts.

The construction of the Springbok 3 cluster resulted in significant economic and environmental benefits. During construction an estimated 850 direct and 1,100 indirect jobs were created for workers from the surrounding local communities. In addition, the Springbok 3 cluster will generate enough clean solar energy to power over 150,000 Los Angeles households per year. The amount of greenhouse gas emissions avoided as a result of the projects is comparable to removing 110,000 cars from the road, or the amount that roughly 24 million trees would displace annually.

“We are extremely proud to have reached commercial operation of the Springbok 3 solar project and are grateful for the hard work and efficiency of 8minute for their help in reaching this successful completion,” said Benoit Allehaut, Managing Director on Capital Dynamics’ Clean Energy Infrastructure team. “This project continues our mission to develop state-of-the-art solar projects that provide clean and reliable energy to residents while assisting states to reduce their dependence on fossil fuels and meet their energy independence goals.”

“Los Angeles and LADWP are leading the world in showing that growing cities and growing economies can be powered by clean and reliable power from solar power plants.  On a typical day, the Springbok solar cluster is delivering about 10% of the power needed to power the City of Los Angeles, “ said Tom Buttgenbach, CEO & President of 8minute Solar Energy. “The Capital Dynamics team, our dedicated partners, the County of Kern, and the outstanding local workforce were all critical in ensuring that we’re able to complete one of the largest solar projects in the state.”

Story Source: ReneSola

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