A major grid infrastructure project owned by Lotus Infrastructure Partners Arizona
Greenwich, Connecticut, January 20, 2023 /PRNewswire/ — Vice President Kamala Harris and federal officials joined Arizona When California Leaders, members of Lotus Infrastructure Partners, California Independent Systems Operator (CAISO), and other senior officials yesterday, January 19, 2023to mark the groundbreaking of Ten West Link, a 125-mile high-voltage transmission project that will strengthen the western power grid and bring more than 3,000 megawatts of renewable energy resources to consumers. California and southwest of the desert.
It was the Secretary of the Interior who joined Vice President Harris at the event Deb Harland energy secretary Jennifer Granholmwelcomed Himanshu Saxena, Chairman and CEO of Lotus Infrastructure Partners, developer and owner of Ten West Link.Country leaders in attendance included the White House’s National Climate Advisor Ali Zaidi. Arizona When California Includes leaders in attendance Arizona governor Katie HobbesCEO of CAISO Elliott Mainsermembers of Congress, and officers elected from the Arizona Business Commission and La Paz County.
The event was held on the west side Tonopah, Arizona Near the Delaney substation to which the project connects Arizona Power grid before moving west California.
In her comments, Vice President Harris said: New high-voltage power lines across the country. All of these also create jobs—high-paying jobs, union jobs. IBEW lineman jobs to build and repair these power lines. Jobs. And a clean energy economy. Jobs that will help our country finally take on the climate crisis as a real crisis.
Ten West Link improves grid efficiency and reliability while enabling new renewable energy and energy storage resources. At its peak, construction will bring over 350 jobs to the area, including over 250 trade union jobs. When completed, the new transmission superhighway will have an initial capacity of 3,200MW. central arizona When Southern CaliforniaThis will improve the reliability of the bulk power system serving the two regions while reducing costs for bill payers. In addition, Ten West Link will facilitate the development of new renewable solar and solar and storage resources in the rapidly growing desert southwest region.
“This new transmission line will accelerate our nation’s transition to a clean energy economy by unlocking renewable resources, creating jobs, reducing costs and boosting local economies,” said the Secretary of the Interior. I was. Deb Harland“Through strong engagement with states, cities and tribes, the Home Office is committed to combating climate change and investing in communities while diversifying the country’s renewable energy portfolio.”
“Today’s announcement demonstrates the exciting potential of building a reliable energy infrastructure that harvests America’s abundant clean energy. We are determined to create high-paying union jobs and will continue to do so, and we will see projects like Ten West take place in all parts of the country for years to come. please,” said the U.S. Secretary of Energy. Jennifer M. Granholm“Thanks to President Biden’s historic clean energy and climate legislation, we finally have the resources we need to build this new economy on American soil, along with American workers.”
Elliott MainserCAISO President and CEO said: We are partners in making this important project a reality, and congratulations to the project team on reaching this important milestone. “
Himanshu SaxenaThe chairman and CEO of Lotus Infrastructure Partners said: , CAISO Chief Executive Officer (CEO) Mainzer and all local, state and federal officials for their role in enabling today. We would like to thank you for the vision and foresight and strong support you had in laying the foundation for the Land Management Administration, the Federal Permit Improvements and Operations Council, and the dozens of federal, state, and local governments in their development. institutions and jurisdictions. “
Ten West Link was developed by DCR Transmission, LLC (DCRT), a joint venture led by an affiliate of Lotus Infrastructure Partners. DCRT has closed non-recourse project financing for Ten West Link. October 31, 2022Construction financing was led by Bank of Mitsubishi UFJ (MUFG), Societe Generale (SocGen) and ING Capital LLC (ING). MUFG acted as the debt facility management agent and SocGen acted as the documentation agent. ING acted as the green loan structuring agent and the debt facility was structured in line with the green loan principles of the LMA, APLMA and LSTA. Construction activity will begin in late 2022 and the project is expected to be operational in 2024.
Ten West Link has been placed under CAISO’s operational control and currently has more than 7,000 megawatts of renewable energy resources applied to interconnect the bulk power grid via lines. The project’s role in unlocking these potential renewable resources has attracted Green Loan financing in recognition of his Ten West Link’s significant contribution to the region’s environmental goals.
About Ten West Links. Ten West Link is developed by DCR Transmission, LLC. (“DCRT”) is a joint venture led by affiliates of Lotus Infrastructure Partners. DCRT was selected by the California Independent Systems Operators Corporation (“CAISO”) to develop energy projects following a comprehensive competitive solicitation in 2015. Ten West Link capacity will become part of the grid managed by CAISO and become Ten West Link. It is a critical transmission asset serving the needs of power consumers in the Southwest. The project is scheduled to go live in 2024. www.TenWestLink.com
About Lotus Infrastructure Partners. Lotus Infrastructure Partners, formerly Starwood Energy, is a US-based private equity investment firm. Greenwich, Connecticut Specializes in energy infrastructure investment. Through existing general investment funds and affiliated investment companies, Lotus will $3 billion of equity capital, totaling $8 billion This includes conventional and renewable power generation (wind and solar), transmission assets including innovative high voltage underwater transmission cables, and other ESG such as battery storage and production of ammonia, hydrogen and renewable natural gas. Includes investments focused on gas and renewable diesel. www.LotusInfrastructure.com
Source Lotus Infrastructure Partner
