Doral Renewables has secured $114 million financing for the Great Bend Solar project in Meigs County, Ohio. The project will be located on 370 acres and will supply power to the PJM regional transmission operator via a power purchase agreement (PPA), generating enough electricity equivalent to the demand of 9,000 homes. The financing includes a $36 million construction-to-loan facility, $57 million tax equity bridge loan, and a $21 million letter of credit facility. Once in operation, the project is expected to generate over $400,000 per year of new annual tax revenues for the county. A report from LevelTen Energy highlighted permitting challenges, a lack of construction companies in the region, and an increase to PJM electricity prices over the next 10 to 15 years as factors driving higher prices.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
