Clean Power Alliance and Goldman Sachs Asset Management Announce New Solar-plus-Storage Clean Energy Facility Now Online
CPA adds 100 MW of Generation Capacity and 50 MW of Energy Storage Capacity, Enough to Power 46,904 Southern California Homes and Avoid 72,660 Metric Tons of Greenhouse Gas Emissions Each Year
October 15, 2021 – Clean Power Alliance (CPA) and the Renewable Power Group within Goldman Sachs Asset Management (Goldman Sachs) today held a ribbon-cutting event to commemorate the commencement of full operations of the High Desert Solar-plus-Storage facility, which will provide CPA with 100 MW of generation capacity and 50 MW of energy storage capacity. In all, the High Desert Solar-plus-Storage facility will provide 300,000 MWh of clean power each year to CPA, enough to power 46,904 Southern California homes and avoid 72,660 metric tons of greenhouse gas emissions each year. The project also created 200 construction jobs.
The agreement allows CPA, the single largest provider of 100% renewable energy in the nation, to build upon its well diversified and reliable clean renewable energy portfolio. The 100 MW solar photovoltaic portion of the project came online August 19, 2021. This will be one of CPA’s first projects with battery technology that will store solar energy generated during the day and then deliver it to the grid when it is needed most by customers.
Representatives of CPA, Goldman Sachs, and elected officials met at the High Desert facility, located just east of highway 395 in Victorville, CA for the event. Members of the Goldman Sachs team provided tours of the expansive state-of-the-art facility, comprised of 295,344 solar panels and 321 battery cubes.
“Facilities such as this allow CPA to remain the leader in providing 100% renewable energy in a reliable and cost-effective manner for our customers,” said Diana Mahmud, Board Chair of Clean Power Alliance. “We’re also proud of the fact that this project is located within a disadvantaged community and provided job opportunities and community benefit to the region, including targeted hiring of local workers.”
“Goldman Sachs is excited to announce the completion of the High Desert Solar project, our first internally-built solar-plus-storage project, which will provide solar power utilizing battery storage technology with PV integration,” said David Fernandez, Managing Director at Goldman Sachs. “We are also proud to support Clean Power Alliance’s efforts to meet global decarbonization targets and believe efforts like this can allow states like California to continue its transition to renewable energy sources.”
To conclude the event, members of both organizations and invited dignitaries performed the ceremonial ribbon-cutting in front of the vast field of High Desert facility solar arrays.
About Clean Power Alliance
Founded in 2017, Clean Power Alliance is the locally operated electricity provider for 30 cities across Los Angeles County and Ventura County, as well as the unincorporated areas of both counties. CPA is the fifth largest electricity provider in California and the single largest provider of 100% renewable energy to customers in the nation. CPA serves approximately three million customers via one million customer accounts, providing clean renewable energy at competitive rates. To view CPA’s 2020 Impact Report, click here. For complete information regarding CPA visit cleanpoweralliance.org.
About Goldman Sachs Asset Management Renewable Power
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of June 30, 2021. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 2017, the Renewable Power Group within Goldman Sachs Asset Management has sponsored more than 800 solar projects across 27 U.S. states that collectively have a capacity of more than 2.3 gigawatts of clean, renewable power. We take a long-term ownership approach to the operations and management of renewable assets with a leading industry expertise across transaction sourcing, financial analysis, power markets and physical asset analysis and operations. Follow us on LinkedIn.