Silverado Power posts $50 million in interconnection financial security for solar energy projects

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Silverado Power posts $50 million in interconnection financial security for solar energy projects

Greentech Lead America: Silverado Power, a wholesale
solar development company created as a joint venture with Martifer Solar, has
posted $50 million in interconnection financial security for solar energy
projects in California.

These deposits and will protect the company’s position in
the California Independent System Operator (CAISO) generator interconnection queue.

“These investments demonstrate Silverado’s commitment to
the bringing our renewable energy projects on-line. We are serious about
expanding our place in the California energy market and are excited about the
competitive projects we have moving forward,” said Hans Isern, Chief Operating
Officer for Silverado Power.

Due to limited transmission capacity, the interconnection
financial security is used by utilities to support investments in the
infrastructure system or grid upgrades. The financing is provided by developers
with the most viable projects in the queue.

“These investments support the development of Silverado’s
high quality projects that have power purchase agreements with utilities, and
have strong community and political support. They demonstrate the growing
strength of Silverado’s 2.8 gigawatt project portfolio,” Isern added.

Silverado recently announced new power purchase
agreements with Southern California Edison and San Diego Gas & Electric.

Silverado is providing complete solar solutions for
utilities, landowners and communities. Silverado Power delivers a fresh
solution to the burgeoning solar market through its unique combination of
experience, scale and industry knowledge.

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