CleanCapital has announced a corporate investment in Alaska-based solar developer Renewable IPP and also committed to fund an 8.5-megawatt solar project and future development pipeline.
The 8.5-megawatt project — which is on track to become the largest solar asset ever built in Alaska — will supply renewable energy to local utility Matanuska Electric Association. When fully operational, the solar array will power 1,400 homes each year, helping to stabilize energy prices and diversify energy generation in Alaska.
Construction on the site commences in August, with an expected completion date of summer 2023.
CleanCapital will provide financing for project construction and serve as the long-term owner-operator of the site. CleanCapital’s investment will also fund Renewable IPP’s operations to accelerate the development of its future pipeline in Alaska. This builds on a partnership that began in 2020.
“Accelerating the energy transition necessitates