Los Angeles and Imperial Valley, CA – The renewable energy landscape in California has reached a new milestone with the completion and commercial operation of the Mount Signal 3 Solar Farm. This monumental 328 megawatt-dc (MW) project is the result of a powerful collaboration between 328 Capital Partners, operating under Capital Dynamics’ Clean Energy Infrastructure (CEI) business, and 8minutenergy Renewables, LLC (“8minutenergy”), the leading independent solar and storage developer in the United States. Mount Signal 3 stands as the largest within the expansive 800 MW Mount Signal solar cluster, a development that not only dominates California’s solar energy production but also ranks among the largest globally.
Acquired by 328 Capital Partners in 2017, Mount Signal 3 commenced construction earlier this year and impressively achieved commercial operation ahead of schedule. This rapid progress underscores the efficiency and expertise brought to the project by both 328 Capital Partners and 8minutenergy. As the original developer of the entire Mount Signal cluster, 8minutenergy’s vision and execution have been pivotal to the success of this massive undertaking. With Mount Signal 1 and Mount Signal 3 now fully operational, the Mount Signal cluster boasts approximately 80% of its total planned capacity online, solidifying its position as a cornerstone of California’s renewable energy infrastructure.
The combined output of Mount Signal 1 and 3 is projected to generate an astounding 1.29 billion kilowatt hours (kWh) of clean, renewable power each year. This substantial energy production is dedicated to serving the residents of 15 Southern California counties, providing enough electricity to power over one million people during daylight hours. Furthermore, this clean energy initiative is estimated to reduce carbon emissions by more than 850,000 metric tons annually, making a significant contribution to California’s environmental goals. The energy generated by Mount Signal 3 is secured through a long-term power purchase agreement established in 2014 between Southern California Edison and 8minutenergy, highlighting the long-term commitment to renewable energy in the region.
Tom Buttgenbach, CEO & President of 8minutenergy, emphasized the project’s significance, stating, “This is a big day for California and the entire solar industry. As the original developer of the Mount Signal solar cluster, 8minutenergy is incredibly proud to bring this phase of the largest solar plant in the state to completion. Mount Signal is a clear demonstration that solar is ready to power California’s 100% clean energy future ahead of schedule.” He further acknowledged the crucial roles played by the Imperial County Board of Supervisors, project partners, and the local workforce in achieving the ahead-of-schedule completion of Mount Signal 3, and expressed gratitude to 328 Capital Partners and Southern California Edison for their invaluable partnerships.
John Breckenridge, Head of Capital Dynamics’ Clean Energy Infrastructure team, representing 328 Capital Partners, echoed this sentiment. “Capital Dynamics is proud to have the development of Mount Signal 3 completed and now providing hundreds of millions of clean kilowatt hours to the grid. Large-scale solar delivers what California needs, massive amounts of clean energy, reliably, and at a low-cost,” he stated. Breckenridge also commended 8minutenergy’s exceptional development and construction management capabilities, proven by the project’s ahead-of-schedule completion.
The construction of the Mount Signal 3 plant was expertly managed by Mortenson Construction, serving as the engineering, procurement, and construction (EPC) contractor. The project incorporated leading-edge technology and equipment from key suppliers, including First Solar, which provided 2.8 million Series 4 thin-film solar panels. NEXTracker contributed its NX Horizon smart solar tracker technology to optimize energy capture, and TMEIC supplied 96 of their Solar Ware® Samurai 2700 Central inverters, ensuring efficient power conversion and grid integration.
About 8minutenergy Renewables, LLC
8minutenergy Renewables stands as the largest independent developer of solar PV and storage projects in the nation. With a substantial portfolio encompassing over 10 GW of solar and storage projects under development across North America, 8minutenergy has already developed over 1100 MW of operating solar assets and secured 2 GW in power purchase agreements. The company’s track record includes the development of some of the world’s largest solar plants, most notably the 800 MW Mount Signal farm in California. 8minutenergy is recognized for its ability to deliver affordable, clean energy solutions and generate strong financial returns from utility-scale solar and storage projects. The company’s Eagle Shadow Mountain Solar Farm in Nevada currently holds the record for the lowest priced solar project in America, demonstrating their commitment to cost-effective renewable energy. For further details, please visit www.8minutenergy.com.
About 328 Capital Partners and Capital Dynamics’ Clean Energy Infrastructure
328 Capital Partners represents Capital Dynamics’ Clean Energy Infrastructure (CEI) team, a group with extensive expertise in investing, financing, owning, and operating both conventional and clean energy businesses on a global scale. Established to capitalize on compelling investment opportunities within the real asset sector, Capital Dynamics’ CEI mandate focuses on direct investments in proven clean energy technologies. These technologies include solar, wind, biomass, conventional gas generation, and waste gas-fueled power generation projects worldwide. Currently, the CEI team manages a substantial 3.1 net GW of generation capacity across the United States and Europe, demonstrating their significant presence and impact in the clean energy market.
About Capital Dynamics
Capital Dynamics is a globally recognized independent asset management firm specializing in private assets, including private equity, private credit, clean energy infrastructure, and energy infrastructure credit. Capital Dynamics offers a diverse suite of tailored offerings and customized solutions to a broad global client base, including corporations, family offices, foundations and endowments, high net worth individuals, pension funds, and other institutional investors. The firm currently oversees more than USD 15 billion in assets under management and advisement. Capital Dynamics distinguishes itself through deep, sustained partnerships with clients, a culture that fosters entrepreneurial leadership, and a commitment to delivering innovative ideas and solutions.
Founded in 1999 and headquartered in Zug, Switzerland, Capital Dynamics employs approximately 160 professionals worldwide. The firm maintains a global presence with offices in New York, London, Tokyo, Hong Kong, San Francisco, Munich, Milan, Birmingham, Dubai, and Seoul. For more information, please visit: https://www.capdyn.com/.
MEDIA CONTACTS:
For Capital Dynamics:
Nicholas Rust, Prosek Partners [email protected] T: +1 646 818 9252 M: +1 917 439 0307
For 8minutenergy:
Helena Kimball, 8minutenergy [email protected] T: +1 415 706 3769 M: +1 603 591 5812
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