ISO / RTO
Clean Energy Deals in WECC
Western Interconnection — covers the non-CAISO West (PNW, Mountain West, Southwest). Mix of bilateral PPA deals and BPA-area offtake.
59
Tracked Deals
40.3 GW
Total Capacity
$46.82B
Disclosed Value
2023–2026
Period
Top Deals
By disclosed value| Date | Asset / Counterparties | Size | Value |
|---|---|---|---|
| May 18, 2025 | TXNM Energy — regulated utility serving 800,000+ customer… Blackstone Infrastructure | 3.0 GW | $11.5B |
| Dec 27, 2023 | SunZia Wind (3,515 MW) + SunZia Transmission (550-mile HV… Pattern Energy Group → Multiple (consortium) | 3.5 GW | $11B |
| Jun 7, 2024 | Libra Solar — 700 MW solar + 700 MW / 2,800 MWh BESS, 20 … Arevia Power (Libra Solar) → NV Energy | 700 MW | $2.3B (estimated project cost) |
| Mar 1, 2024 | Thacker Pass lithium processing plant (largest US lithium… Lithium Nevada Corp. → US Department of Energy (LPO) | — | $2.26B |
| Oct 28, 2024 | Thacker Pass Phase 1 — 40,000 tpa lithium carbonate minin… Lithium Americas Corp (with GM as 38% partner) → U.S. Department of Energy (ATVM Program) | — | $2.26B (DOE ATVM loan close) |
| Mar 16, 2026 | Maricopa Energy Center — 550 MW solar + 2,200 MWh BESS in… Copia Power → BNP Paribas, CIBC, Credit Agricole CIB, KeyBanc Capital Markets, Natixis CIB, Wells Fargo, CoBank | 550 MW | $1.71B |
| Nov 10, 2025 | Snowflake A — 600 MW solar + 1,900 MWh BESS, Navajo Count… Enlight Renewable Energy (ClÄ“nera) → Wells Fargo, BNP Paribas, Natixis, Nord/LB, Crédit Agricole, MUFG | 600 MW | $1.44B |
| Nov 28, 2023 | Faraday Solar — 682.5 MW utility-scale solar with investm… Excelsior Energy Capital → U.S. Bancorp Impact Finance ($400M tax equity), MUFG, Nord/LB (CLAs) | 682.5 MW | $1.3B ($400M tax equity + $460M loan + $300M tax equity bridge + $250M ancillary) |
| Feb 1, 2024 | Harquahala Generating Station (1,092 MW, AZ) + La Paloma … Capital Power | 2.2 GW | $1.1B |
| Jun 1, 2024 | Green River Energy Center (400 MW solar + 400 MW / 1,600 … rPlus Energies → CACIB and others | 400 MW | $1.1B |
Most Active Firms
Top Buyers / Financiers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Amazon | 2 | — |
| 2 | Arizona Public Service (APS) | 2 | $300M |
| 3 | NV Energy | 2 | $3.06B |
| 4 | Arizona Public Service | 2 | $2.22B |
| 5 | Multiple | 2 | $665M |
Top Sellers / Developers
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | Fervo Energy | 10 | $1.48B |
| 2 | Longroad Energy | 3 | — |
| 3 | Invenergy | 3 | — |
| 4 | Cypress Creek Renewables | 2 | $340M |
| 5 | Pattern Energy Group | 1 | $11.00B |
Top Lenders
| # | Firm | Deals | Value |
|---|---|---|---|
| 1 | MUFG, Nord/LB | 1 | $513M |
| 2 | Bank of America, CoBank, DNB, Rabobank, Siemens, Zions | 1 | $513M |
| 3 | Zions Bancorporation | 1 | $398M |
| 4 | Wells Fargo, BNP Paribas, Natixis, Nord/LB, Crédit Agricole, MUFG | 1 | $1.44B |
| 5 | CIBC, MUFG | 1 | $689M |
Top Legal Counsel
| # | Firm | Deals |
|---|---|---|
| 1 | Latham & Watkins | 2 |
| 2 | Sidley Austin | 1 |
| 3 | Kirkland & Ellis | 1 |
| 4 | Troutman Pepper Locke | 1 |
| 5 | Cahill Gordon & Reindel LLP | 1 |
Technology Mix
Deal Type Mix
- Project Finance26
- Power Purchase & Offtake11
- Project & Portfolio M&A10
- Strategic & Growth Capital5
- Tax Equity & Tax Credits4
Activity by Year
Recent Deals
Latest 10- BrightNight–Cordelio Power JV portfolio buyout — 6 GW of development-stage so…Apr 21, 2026
Project & Portfolio M&A · Multi-state · 6,000 MW
- Zanskar AI-native geothermal exploration platform — $40M development capital …Apr 16, 2026
Project Finance · NV · $40,000,000
- Fervo Energy / Turboden 1.7 GW Geothermal ORC Turbine Supply Framework Agreem…Apr 7, 2026
Power Purchase & Offtake · UT · 1,750 MW
- Roccasecca Battery Energy Storage Project — 127 MW / 506 MWh standalone BESS,…Mar 31, 2026
Project & Portfolio M&A · NV · ~$290M senior secured debt (acquisition price undisclosed) · 127 MW
- Cape Station Enhanced Geothermal System (EGS) — Phase 1 ~100 MW, scaling to 5…Mar 19, 2026
Project Finance · UT · $421M · 500 MW
- SunDog Energy Center — 200 MW solar + 200 MW / 800 MWh battery storage, Pinal…Mar 17, 2026
Power Purchase & Offtake · AZ · 200 MW
- Crimson Orchard — 120 MW solar + 400 MWh BESS in Elmore County, IdahoMar 16, 2026
Project Finance · ID · $304M · 120 MW
- Maricopa Energy Center — 550 MW solar + 2,200 MWh BESS in Arizona (largest re…Mar 16, 2026
Project Finance · AZ · $1.71B · 550 MW
- Sun Pond Solar + BESS — 111 MWdc / 85 MWac solar + 340 MWh battery storage, M…Mar 11, 2026
Tax Equity & Tax Credits · AZ · 111 MW
- Gemini Solar + Storage — 690 MWac solar + 380 MW/1,400 MWh BESS, Clark County…Mar 10, 2026
Project Finance · NV · $760M · 690 MW
Recent Moves at Active Firms
All moves →Kevin Smith joined as Chief Executive Officer at Cypress Creek RenewablesMar 5, 2026
Sarah Slusser departed Cypress Creek RenewablesMar 5, 2026
Jennifer Gasser joined as Partner, Energy and Infrastructure M&A at Paul WeissMar 3, 2026
Seth Richardson promoted to Partner, Project Development & Finance at Latham & WatkinsFeb 20, 2026
Thomas Verity joined as Partner, Energy M&A at Norton Rose FulbrightFeb 15, 2026
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