Swift Current and Google Partner on 800 MW Solar Project

A landmark partnership has been forged in Illinois’s renewable energy landscape, with Swift Current Energy securing a significant tax equity investment from Google. This collaboration underpins the development of the Double Black Diamond Solar project, an 800 MWdc (593 MWac) facility poised to become the largest of its kind east of the Mississippi River.

A New Era: Swift Current and Google Partner on 800 MW Solar Project in Illinois

Located in Sangamon and Morgan counties, approximately 30 miles west of Springfield, the Double Black Diamond Solar project is set to make a substantial environmental and economic impact. With a target operational date of early 2025, the facility is projected to generate enough clean electricity for 100,000 households each year while displacing an estimated one million tons of carbon dioxide emissions annually. The project’s financing structure strategically leverages federal incentives from the Inflation Reduction Act, including provisions for Energy Communities and domestic content.

Local officials have praised the initiative’s community benefits. “We are proud to be home to one of the largest clean energy projects in the nation,” stated Andy Van Meter, Sangamon County Board Chairman. “The Double Black Diamond Solar project brings significant economic benefits to our community, contributing $100 million in tax revenue and supporting hundreds of jobs. This project is a win for both our community and the environment.” During its peak construction phase, the project created approximately 500 jobs.

Strategic Financing: Swift Current and Google Partner on 800 MW Solar Project

Swift Current, which is developing the project and will serve as its long-term owner and operator, previously secured construction financing from a consortium of leading banks, including Mitsubishi UFJ Financial Group (MUFG), Societe Generale, Truist, and ING. The addition of Google as a tax equity partner marks a pivotal milestone.

“Projects of Double Black Diamond Solar’s magnitude require innovative partnerships,” said Eric Lammers, CEO and Co-Founder of Swift Current. “We are delighted to join forces with Google on a ground-breaking structure that will support Double Black Diamond Solar and serve as a guide for other major projects to come.”

Google’s involvement underscores its commitment to decarbonizing the grid. “As we work to responsibly grow our infrastructure, we need to partner with companies like Swift Current who understand the nuances of the energy markets where we operate and can help unlock new clean energy at a rate that matches the pace and scale of demand growth on electric grids today,” commented Amanda Peterson Corio, Global Head of Data Center Energy at Google.

Powering Major Customers with Swift Current and Google Partner on 800 MW Solar Project Technology

Constellation NewEnergy will purchase a portion of the project’s output and Renewable Energy Credits (RECs) to supply a roster of prominent clients. This includes a major agreement with the City of Chicago to use the renewable energy to power key facilities like O’Hare and Midway International Airports. Other notable customers include Cook County, CVS Health, Loyola University Chicago, PPG, State Farm, and TransUnion.

The project’s construction is being managed by McCarthy Building Companies Inc. as the engineering, procurement, and construction (EPC) contractor. Emphasizing a domestic supply chain, the facility features solar modules from First Solar, primarily manufactured in the U.S., and trackers from American-based Nextracker.

Sources

1. Google invests in 800 MW solar project in Illinois – pv magazine USA
2. Google invests in 800 MW solar project in Illinois – REGlobal – Big …
3. Swift Current Powers Up 800 MW Solar Plant In Illinois Using …
4. Google invests in 800 MW solar project in Illinois
5. Swift Current Energy Secures Investment from Google for 800 MW …
6. McCarthy Building Companies Completes Landmark 800 MW Solar …
7. Swift Current Energy Announces Energization of Landmark 800 MW …
8. Company Secures Investment from Google for 800-MW Solar …
9. Google finances Swift Current 800MWdc solar PV project in Illinois