Two Major Solar Projects Begin Operations, Promising Millions in Revenue and Tax Benefits
Two major solar projects have begun operations, promising significant revenue and tax benefits. The Milagro Solar+Storage project in New Mexico is set to generate $18 million in tax revenue for Doña Ana County over its lifespan. Meanwhile, the Roadrunner Project in Arizona is expected to bring in $50 million in first-year revenue and $40 million in EBITDA.
The Milagro Solar+Storage project, a 150 MW DC solar project paired with a 75 MW/4-hour battery energy storage system, has started generating power. This project is expected to provide a substantial boost to the local economy.
The Roadrunner Project, a 290 MW solar and 940 MWh storage facility, has secured around $340 million in tax equity financing from Bank of America and Morgan Stanley. This project is anticipated to generate significant revenue and EBITDA in its first year of operation.
In other news, Spruce Power Holding Corporation has entered the home battery storage market through a partnership with Treehouse. Additionally, Fermi America has priced its initial public offering (IPO) of 32.5 million shares at $21 each, with proceeds supporting its planned 11 GW AI campus in Texas.
