Swift Current Energy on Aug. 20 announced that it has closed on a tax equity investment from Google for its landmark 800 MWdc 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, Illinois, 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, Societe 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.
Constellation NewEnergy Inc. will purchase a portion of the energy and RECs generated by Double Black Diamond Solar to serve the seven customers that have been announced.
The City of Chicago will source renewable energy produced by the project to power several energy-intensive facilities, including Chicago O’Hare International Airport and Midway International Airport. Additionally, Cook County, Ill., CVS Health, Loyola University of Chicago, PPG, State Farm and TransUnion have agreements to purchase power from the project via Constellation.
