IntersectPower, a large-scale renewable energy project developer headquartered in the United States, said recently that it has received a financing commitment of US$2.6 billion to support the deployment and operation of six solar storage projects, including photovoltaic facilities and total installed capacity of 2.2GW. A battery energy storage system with an energy storage capacity of 1.4GWh.

The content includes six battery energy storage projects, Athos III, Oberon I and Oberon II in California, and Radian, Lumina I and Lumina II in Texas. It is estimated that by 2023, these projects will be put into operation.

Intersect Power said it has received $1.4 billion in term debt financing from HPS Investments and existing investor CarVal Investors.

Intersect Power will also receive US$800 million in financing hosted by Mitsubishi UFJ Financial Group (MUFG) and Santander Bank.

These funds will be used to fund the construction of the Athos III project in Riverside County, California, which includes a 310MW/453MWh battery energy storage system. At the same time, these funds also provide assistance for the 415MW Radian photovoltaic power generation project deployed in Brown County, Texas.

The company also received $400 million in financing commitments from investors such as Bank of America and Morgan Stanley Renewable Energy.

Sheldon Kimber, founder and CEO of Intersect Power, said, "This financing will enable us to deliver a series of core projects in the next two years. We will build the most scalable and transformative clean energy projects on this basis to minimize the cost and risk of deployment, and to promote the deep decarbonization of our economy."

Earlier this year, Intersect Power raised US$127 million in one of the top five financing deals in the photovoltaic industry in 2021. The company also raised $482 million in the first quarter of this year.

Lithium-ion battery (LIB) has become the main energy storage solution in modern social life. Among them, lithium iron phosphate batteries are a perfect substitute for lead-acid batteries, and are the first choice for grid-connected peak shaving, off-grid energy storage, photovoltaic energy storage, UPS, data center and other industries.

Solar power generation system with lithium battery energy storage system is a very promising clean energy.