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Google Invests in Swift Current's Landmark 800 MW Solar Project
Slice of Energy Team
August 22, 2024
Key Highlights:
Google invests in Swift Current's 800 MW Double Black Diamond Solar project.
Set to be the largest solar project east of the Mississippi River.
Expected to reduce CO2 emissions by one million tons annually.
Project to provide power for 100,000 homes and generate $100 million in tax revenue.
Commercial operations expected by early 2025.
Source (PR Newswire)
Notable Quotes:
"Projects of Double Black Diamond Solar's magnitude require innovative partnerships. We are delighted to join forces with Google on a ground-breaking structure that will support Double Black Diamond Solar and serve as a guide for other major projects to come."
"As we work to responsibly grow our infrastructure, we need to partner with companies like Swift Current who understand the nuances of the energy markets where we operate and can help unlock new clean energy at a rate that matches the pace and scale of demand growth on electric grids today."
"The Double Black Diamond Solar project brings significant economic benefits to our community, contributing $100 million in tax revenue and supporting hundreds of jobs."
Our Take:
The collaboration between Swift Current Energy and Google on the Double Black Diamond Solar project underscores a growing trend of tech giants investing in large-scale renewable energy projects. This partnership is particularly notable given the project's scale and innovative financing structure, which leverages incentives from the Inflation Reduction Act. As the largest solar project east of the Mississippi River, it sets a significant precedent for future renewable energy initiatives, especially in energy-intensive regions like Illinois. The involvement of major players such as Constellation NewEnergy and the City of Chicago highlights the project's critical role in driving the region’s transition to clean energy.