San Francisco, CA – Intersect Power, LLC, (“Intersect Power” or “Intersect”), announced today the closing of eight separate transactions representing an aggregate of $2.6B of financing commitments for the construction and operations of a six-project portfolio. The transactions cover construction financing, tax equity, land financing and portfolio level term debt with industry-leading partners.
“These closings demonstrate what Intersect has been saying for some time now – that today’s long-term offtake contracts actually destroy value, and that there are innovative ways to finance clean energy assets which enable more valuable offtake structures,” said Sheldon Kimber, founder and CEO of Intersect. “This financing will allow Intersect to deliver a core set of projects in the next two years that will serve as the platform for future growth into green hydrogen and beyond. This is the base from which our company will build the most scalable, transformative clean energy projects that minimize cost and risk per MW deployed, and move the needle on the deep decarbonization of our economy.”
