Clean energy investor Excelsior Energy Capital announced its 685.3-MWDC Faraday Solar project in Utah County, Utah, commenced commercial operations on Sept. 30. Through a PPA, the project will match Meta’s operations in Utah with clean energy.
Faraday Solar is one of the largest utility-scale solar investments in the United States. The project is backed by a 20-year PPA with PacifiCorp under Rocky Mountain Power’s Schedule 34 green energy tariff, which allows large customers to directly support the incremental addition of clean and renewable energy projects to support the customer’s clean energy goals.
The long-term PPA provides financial stability for the project and helps ensure PacifiCorp can reliably supply Meta’s energy needs. Excelsior acquired Faraday Solar in 2023 from Parasol and Clenera, the initial developers of the project. Excelsior leveraged its deep industry relationships to secure and advance the asset through the financing and construction phases.
“Successful delivery of this landmark project reaffirms Excelsior’s commitment to enabling others to reach their clean energy goals and support a clean and reliable grid,” said Chris Frantz, partner and head of portfolio operations for Excelsior Energy Capital. “Solar energy continues to demonstrate its resilience and strategic importance, and projects such as Faraday Solar can not only deliver attractive returns but also enhance energy security and independence in a volatile global landscape.”
Excelsior will host a ribbon-cutting ceremony alongside partners, investors and community stakeholders to celebrate the achievement on Nov. 5.
News item from Excelsior Energy Capital
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