Project Polaris — conditional commitment for hydropower, BESS, transmission, VPP across Northern & Central California
Conditional commitment announced Dec 17, 2024. Financial close followed one month later on Jan 17, 2025 — the fastest conditional-to-close timeline in LPO history for a deal of this scale.
$15.00B
Deal Value
Solar + Storage
Technology
CA
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Pacific Gas & Electric (PG&E)
- Buyer / Financier
- DOE Loan Programs Office
- Deal Value
- $15B
- Stage
- Development
- ISO/RTO
- CAISO
- Source
- Power Magazine
Capital Structure
$15.0B
Total transaction value
Tranches
- DOE Title 17 Section 1706 (EIR) loan guarantee · DOE Loan Programs Office
- $15.0B
Finance Counterparties
Lenders & Capital Providers
- lender
- DOE LPO (EIR Program)
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