US$60 million project
According to the announcement, the project will include battery storage capabilities and generator-based backup power. The capital cost of the solar portion of the project is expected to be approximately US$60 million. Under the terms of the agreement, Green Data is responsible for arranging project equity and debt and Solar Alliance has an option to provide up to 10% of the project equity.
Solar Alliance Energy’s CEO Myke Clark said,
“Green Data is at the forefront of the growing wave of hyperscale data centers powered with renewable energy. This 56-megawatt project will offset a significant portion of their energy needs and create jobs and opportunities in Illinois. Solar Alliance has been working diligently to expand our microgrid and utility business and this project is an incredible opportunity to scale rapidly with a great partner. The option to provide equity for partial ownership of the project also aligns well with our stated goal of building a portfolio of projects that generate long term revenue streams for Solar Alliance.”
This next project, a hyperscale data center tech hub with 56-megawatt solar capacity will combine solar and battery backup with the electrical requirements of a data center is complex. Preliminary design work is expected to begin in the first half of 2021 with a decision on a construction timeline being completed as part of that process.