A consortium of leading financial institutions collaborated to secure the necessary funding for this project.
"The successful financing for the Scatter Wash battery storage complex marks a significant step forward in our mission to drive the transition to clean energy,” said Markus Wilhelm, Chief Executive Officer of Strata Clean Energy. “This opportunity to collaborate with our financing partners to bring this critical project to fruition will create a lasting, sustainable impact on a region that struggles with grid challenges and extreme heat."
“J.P. Morgan is working to provide capital to accelerate the growth of sustainable infrastructure nationwide,” said John Beebe, Executive Director, J.P. Morgan Green Economy Banking. “We’re very pleased to work alongside Strata to decarbonize our communities and build a more resilient energy future.”
“U.S. Bancorp Impact Finance is thrilled to expand an already fruitful relationship with Strata Clean Energy by deploying debt and tax equity to meet our customer’s demand for this exciting project,” said Impact Finance Chief Investment and Product Officer Sunil Rajpurohit.
The Scatter Wash battery storage complex will store enough electricity to power 50,000 Arizona homes during peak summer conditions for 20 years, revolutionizing grid stability and streamlining the incorporation of renewable energy sources in Arizona, thereby advancing economic growth and environmental sustainability. In May 2023, Strata forged a 20-year tolling agreement with Arizona Public Service, cementing its commitment to this groundbreaking initiative.
