Solar Financial Closes

EDF Power Solutions North America reached financial close on Utah Solar 1, a 394 MWdc/300 MWac solar facility in Millard County, Utah, moving the project into full construction with electricity delivery slated for mid-2027. The project is backed by a 30-year power purchase agreement with the Southern California Public Power Authority, with electricity serving Los Angeles Department of Water and Power customers.

Financing was secured through credit facilities from Crédit Agricole CIB, MUFG Bank and other lenders, including a tax credit bridge facility tied to the project's Production Tax Credits.

Beyond generating an estimated 766,000 MWh annually, the project is projected to deliver more than $40 million in local tax revenue for Millard County and $27 million in lease revenue for the Utah Trust Lands Administration over its lifetime.