ENERGY STORAGE

Orsted secures $680 million in J.P. Morgan tax equity financing for US solar & storage assets

June 4, 2024

Danish energy company Orsted has secured an investment of $680 million in tax equity financing from J.P. Morgan for a portfolio of solar and storage assets in Texas and Arizona.

The tax equity allows for tax credit transferability under the 2022 Inflation Reduction Act.

The financing will be used to help fund the completion of the 300 MW solar and 300 MW storage Eleven Mile Solar Center project in Pinal County, Arizona, and the 250 MW Sparta Solar project in Mineral, Texas.

The company expects commercial operations for both projects to begin in 2024.

 

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