Google Invests in Swift Current Energy's 800 MW Solar Project in Illinois

Swift Current Energy has secured a significant tax equity investment from Google for its Double Black Diamond Solar project, an 800 MWdc (593 MWac) solar initiative in southern Illinois. The project, located approximately 30 miles west of Springfield, aims to bolster renewable energy production in the region and is set to begin commercial operations by early 2025.

This investment is bolstered by the energy communities and domestic content incentives included in the Inflation Reduction Act, which supports clean energy projects across the United States. The Double Black Diamond Solar project is currently under construction and represents a substantial step toward reducing carbon emissions and promoting sustainable energy solutions.

A Boost for Local Communities and the Environment

The Double Black Diamond Solar project is poised to deliver significant benefits to the local communities in Sangamon and Morgan counties. Upon completion, the solar facility will have the capacity to power approximately 100,000 homes annually, substantially contributing to the region's energy needs. In addition to providing clean energy, the project is expected to reduce regional carbon dioxide emissions by about one million tons per year, marking a major environmental milestone.

Swift Current Energy, the developer of the project, will maintain long-term ownership and operation of the facility, ensuring its sustained contribution to the local economy and the environment.

Strong Financial Backing and Partnership

In addition to Google's tax equity investment, the Double Black Diamond Solar project has secured construction financing from prominent financial institutions, including Mitsubishi UFJ Financial Group (MUFG), Societe Generale, Truist, and ING. These partnerships underscore the financial viability and robust backing of the project.

Swift Current Energy has also partnered with McCarthy Building Companies, Inc. as its engineering, procurement, and construction (EPC) partner. The project will utilize high-quality solar modules from First Solar, with most of the components manufactured in the United States, and advanced solar trackers from Nextracker, enhancing the efficiency and reliability of the solar facility.