Masdar Completes $950 Million Lockhart Solar and Storage Complex in California With 173.7 MW of Batteries

Masdar has completed the $950 million Lockhart Solar and Storage complex at Hinkley, California, pairing 365 MW of solar photovoltaic generation with 173.7 MW of battery energy storage. The Abu Dhabi clean energy company said the project adds utility-scale generation and grid-stability assets to the US market, ESS News reported.

Terra-Gen developed the project. Masdar and Igneo Infrastructure Partners jointly own Terra-Gen. A ribbon-cutting ceremony at the Hinkley facility marked the milestone. Company employees, local officials, commercial lenders, project partners and customers attended, Masdar said.

Project Scale and Buyers

The complex includes more than 925,000 solar modules and 248 battery enclosures, according to Masdar. Combined, the installation is designed to generate enough electricity to meet the annual needs of approximately 350,000 homes and businesses, ESS News reported.

Lockhart sells its output under two kinds of contracts. The facility holds offtake agreements with corporate buyers and long-term power purchase agreements with California load-serving entities, Masdar said.

Construction Jobs and Tax Revenue

Engineering and construction created more than 1,000 on-site jobs, Masdar said. Crews worked 880,000 hours over four years to build the solar and storage complex.

Masdar said the economic benefits extend past construction. The company expects the facility to generate more than $40 million in property tax revenue over its operating life, along with other contributions and benefits to the local community.

Masdar’s US Investment Plans

Masdar has invested approximately $3 billion in the United States, the company said. It plans to invest a further $20 billion over the next decade. Its stated ambition is to grow its US portfolio to up to 25 GW by 2030.

Lockhart’s completion comes as Masdar pursues that expansion through Terra-Gen and other US holdings.

Why It Matters

Lockhart puts 365 MW of solar and 173.7 MW of batteries at one California site. Terra-Gen chief executive John O’Connor described the case for that pairing. “Solar is one of the most economical sources of new electricity, and storage extends its value by making that energy available when it’s needed most,” he said.

The contract mix also matters for the project. Corporate buyers and California load-serving entities both hold agreements for Lockhart’s output, so the complex serves private customers and electricity providers at once.

Sources

• ESS News
• Masdar