Swift Current Energy has closed on a tax equity investment from Google for its landmark 800 megawatt defined conditions (593 megawatts of alternating current) Double Black Diamond Solar project in southern Illinois.
Once operational, Double Black Diamond Solar is expected to be the largest solar project east of the Mississippi River. The tax equity financing utilizes energy communities and domestic content adders, provided in the Inflation Reduction Act. Located 30 miles west of Springfield, Ill., the project is currently under construction and is expected to reach commercial operations by early 2025.
Swift Current previously announced that Mitsubishi UFJ Financial Group (MUFG), Société Generale, Truist and ING provided construction financing for the project. Swift Current is the project developer and will be the long-term owner and operator.
During its operational life, Double Black Diamond Solar will contribute to communities in Sangamon and Morgan counties.
