Clean energy investor Excelsior Energy Capital announced its 685.3 MWdirect current The Faraday Solar project in Utah County, Utah, began commercial operations on September 30. Through a PPA, the project will provide clean energy to Meta’s Utah operations.
Faraday Solar is one of the largest utility-scale solar investments in the United States. The project is supported by a 20-year PPA with PacifiCorp under Rocky Mountain Power’s Schedule 34 green energy tariff, allowing major customers to directly support the incremental addition of clean and renewable energy projects to support customers’ clean energy goals.
The long-term PPA provides financial stability for the project and ensures PacifiCorp can reliably meet Meta’s energy needs. Excelsior acquired Faraday Solar in 2023 from Parasol and Clenera, the first developers of the project. Excelsior leveraged its deep industry relationships to secure and advance the assets through the financing and construction phases.
“The successful delivery of this groundbreaking project reaffirms Excelsior’s commitment to empowering others to achieve their clean energy goals and support a clean and reliable electric 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 like Faraday Solar can not only deliver attractive returns, but also increase energy security and independence in a volatile global landscape.”
Excelsior will join partners, investors and community stakeholders to host a ribbon-cutting ceremony on November 5 to celebrate the achievement.
News item from Excelsior Energy Capital
