Geronimo Power breaks ground on 250 MW Portage Solar | Projects Weekly
Geronimo Power is building a 250 MW solar project in Wisconsin to facilitate data center development. Meanwhile, 38 Degrees North has raised more than $230 million while acquiring a 250 MW project portfolio, SUNY College of Environmental Science and Forestry has joined forces with GS Power Partners to cut energy costs through community solar, DESRI and El Paso Electric have started construction at the Santa Teresa solar and storage facility in New Mexico, OCI Energy has sold a 120 MW solar project in Texas to Sabanci Renewables, Sol Systems secures $675 million in financing to develop 500 MW solar + storage project pipeline. Read all about these developments in this edition of the Projects Weekly.
Geronimo Power has started onsite construction at its 250 MW Portage Solar project in Portage County, Wisconsin, within the Midcontinent Independent System Operator (MISO) market. The project joins Apple River Solar, which announced the start of construction earlier this year in Polk County, Wisconsin.
“The true value of renewable energy isn’t in the power it provides to the local grid,” said Joe Ibrahim, VP of construction at Geronimo Power. “It’s about the immensely positive impact to local economies in the form of new revenue streams and job creation. We anticipate the addition of Portage Solar to our Wisconsin portfolio will contribute more than $100 million statewide. That’s a huge milestone for us and a big win for our project communities.”
Cool factor: Portage is anticipated to contribute more than $73 million in direct economic impact over the first 20 years of operation through the creation of new tax revenue, jobs, increased local spending and charitable giving. This includes $24 million in new tax revenue to be distributed to the local county and townships. These contributions, combined with Apple River, will result in more $100 million in direct economic impact across the Badger state.
Construction of the project marks the first for Geronimo to partner with engineering, procurement, and construction (EPC) firm Burns & McDonnell. The project is expected to create more than 300 construction jobs, with a goal of filling all positions through local Wisconsin craft labor. Portage has a previously announced power purchase agreement (PPA) .
“As demand for data centers continues to grow, so does the need for reliable, renewable energy,” says Leslie M. Duke, chair and CEO, Burns & McDonnell. “We are proud to support Geronimo Power in the build out of the Portage site. Together with local union halls and contractors, we are supporting the workforce and strengthening the community as we build.”
Above and beyond tax revenue and job creation, Portage Solar will also pledge approximately $1.25 million to local charities and organizations over the first 20 years of operation through a dedicated charitable fund.
38 Degrees North raises more than $230 million, adds 250 MW portfolio
Community solar and distributed renewables platform 38 Degrees North has closed on a growth equity investment Climate Adaptive Infrastructure (CAI) and Kimmeridge Energy Management Co. LLC, bringing its total growth capital raised above $230 million to date. The company also completed the acquisition of Kimmeridge-backed community solar developer U.S. Light Energy, including its project pipeline of more than 250 MW.
“With rapidly rising electricity prices due to the dramatic increases in power demand from data centers, A.I. and the electrification of transportation, it’s clear that we need to accelerate the deployment of local clean energy projects that provide homeowners and small and medium sized business owners with meaningful long-term savings,” said 38 Degrees North founders Ryan Bennett, Jake Carney and Chris Bailey. “CAI and Kimmeridge’s support will be key to helping us unlock new opportunities with great development partners, landowners, and customers.”
Cool factor: Founded in 2015, 38 Degrees North is an established platform focused on development-stage and construction-ready distributed generation and community solar projects. To date, the company has successfully aggregated, financed, constructed, and managed more than 400 MW across over 100 projects through partnerships with high-quality institutional investor partners. The company previously closed a growth equity investment from S2G Investments in late 2023.
Norton Rose Fulbright served as legal counsel to 38 Degrees North on the corporate raise as well as the acquisition of U.S. Light Energy, while Kirkland & Ellis LLP represented CAI and S2G, respectively, and Foley & Lardner LLP advised Kimmeridge.
SUNY partners with GS Power to cut energy costs through community solar
GS Power Partners (GSPP) is providing the SUNY College of Environmental Science and Forestry (ESF) energy cost savings through its Saratoga II community solar farm. The college has subscribed to GSPP’s solar farm, which is located in Middle Grove, New York, through a partnership with GSPP and Community Solar Authority (CSA). In addition to delivering substantial savings, the initiative supports the development of renewable energy infrastructure in upstate New York, reinforcing ESF’s commitment to a cleaner, more sustainable future.
“As one of the first large-scale SUNY participants in community solar, ESF is leading by example in pursuing cost-effective and community-centered sustainability solutions,” said Amanda Zurla, GSPP’s chief development officer. “Through our partnership with CSA, we were able to connect ESF with an existing project so they would realize the benefits quickly. It is our hope that the program will expand to other campuses in the future.”
Cool factor: Driven to set the standard for sustainability, ESF began searching for a community solar partner to help them support renewable energy production affordably. GSPP was able to meet ESF’s requirement for consolidated billing, and is delivering a 10 percent savings on electricity delivery costs at the main Syracuse campus, amounting to tens of thousands of dollars annually.
“We wanted to find a solution that aligned with our sustainability goals, reduced our utility expenses, and didn’t create more administrative burden,” said Michael Amadori, Energy Manager at SUNY ESF. “Community solar checked all those boxes. And most importantly, it delivers clean, affordable energy to our communities and contributes to the decarbonization of the grid.”
In addition to SUNY ESF, 530 households in New York State benefit from Saratoga II community solar credits through National Grid. Community solar adds another layer of sustainability to ESF’s campus, which is also moving toward all-electric heating systems, training staff on new energy technologies, and exploring additional heat recovery strategies.
DESRI, El Paso Electric start construction on solar + storage facility in New Mexico
DESRI and El Paso Electric (EPE) has begun construction on the Santa Teresa Solar and Storage project in Doña Ana County, New Mexico, after receiving its financial notice to proceed (FNTP).
“The Santa Teresa Project is a cornerstone of DESRI’s growing partnership with El Paso Electric and a prominent example of how cost-effective solar and storage assets can power New Mexico’s future,” said Hy Martin, chief development officer of DESRI. “The project not only contributes to regional grid stability via large-scale energy storage, but it also underscores our shared commitment to clean energy and economic development in Doña Ana County and across the state.”
LG Energy Solution Vertech will provide U.S. made battery energy storage systems and the AEROS software suite for the project with continuous support through a long-term service agreement. SOLV Energy will serve as the engineering, procurement, and construction (EPC) contractor for the Project and will also provide ongoing operations and maintenance services once the Project is operational.
Cool factor: Santa Teresa is a 150 MWac solar facility with a 600 MWh battery energy storage system (BESS). The project has a 20-year power purchase agreement with EPE. The project is expected to generate enough renewable energy to power approximately 60,000 EPE customer homes each year. Santa Teresa is DESRI’s second project to begin construction in EPE’s territory, following the 130 MWac solar and 260 MWh BESS Carne project, which began construction in 2024.
“This project is about more than adding solar power. It’s about delivering lasting value to the communities and businesses we serve,” said Dave Hawkins, VP of system planning and operations support at El Paso Electric. “By providing clean energy and added capacity to the entire region, we’re strengthening reliability, supporting sustainability and investing in future economic development growth.”
OCI Energy sells 120 MWac project to Sabanci Renewables
OCI Energy has sold the 120 Mwac Project Pepper to Sabanci Renewables. The transaction marks the first collaboration between the companies with additional transactions under consideration.
“This collaboration reflects our confidence in the U.S. energy market and our commitment to scaling a resilient power portfolio,” said Tolga Kaan Doğancıoğlu, CEO of Sabanci Climate Technologies. “With this latest addition, we now hold 660 MWdc of solar capacity either operational or under construction, building toward our long-term goal of a 3,000 MWdc renewable portfolio by 2030.”
Cool factor: Located in McLennan County, Texas, Project Pepper is a utility-scale solar power project, strategically sited to meet growing demand for reliable and affordable energy in the region. OCI Energy developed Project Pepper from inception and led all phases of site acquisition, pre-construction site studies, permitting, and grid interconnection. Sabanci Renewables will now finance, construct, own and operate the project, which is expected to reach commercial operation in Q3 of 2027.
Project Pepper marks OCI Energy’s continued leadership in utility-scale solar and battery energy storage project development across the U.S., with a pipeline of over 5 GWac of projects currently under development.
Sol Systems secures $675 million to support 500 MW solar + storage portfolio
Sol Systems has acquired a $675 million revolving construction finance facility to support the buildout of its upcoming portfolio of solar and storage projects.
“This facility is a major step forward in scaling Sol’s operating portfolio,” said Richard Romero, CFO of Sol Systems. “It gives us the capital to reliably and quickly deliver clean energy projects across the country.”
Cool factor: This financing will fund construction loans, tax equity bridge loans, and letters of credit — supporting an initial 500 MW of projects planned in Illinois, Ohio and Texas. The first group of projects is expected to come online by the end of 2026. The portfolio supported by this financing is comprised of a robust pipeline of shovel-ready projects aligned with state-level and corporate decarbonization goals.
“We’ve seen long term energy supply and demand market dynamics drive continued investment into renewables,” said Dan Diamond, chief development officer at Sol Systems. “Customers continue to leverage utility scale solar for cleaner, faster, cheaper generation supply. This sizable financing paves the way for the growth of our IPP platform.”
