"We are pleased to complete another renewables investment with the team at RES," said Michael Rucker, CEO and founder of Scout Clean Energy. "The Blue Sky project is one of the largest solar projects approved to date in the PJM and is the second Midwest solar project Scout has added to its expanding renewables portfolio this year. Blue Sky is a uniquely located project enabling the supply of significant solar power to the Greater Chicago region. Blue Sky further diversifies our fleet across wind, solar and storage. Scout will close out 2021 with over 12,000 MWdc in our development pipeline and more than 1,200 MWdc of renewable projects in operation across the United States."
Blue Sky received unanimous approval for a Special Use Permit with Grundy County in December 2020, under the established Grundy County Solar Ordinance. RES began land acquisition and interconnection studies on the site in 2018. The project should receive its full interconnection agreement in the third quarter of 2022.
"We are excited to be working with Scout Clean Energy again," said John Rohde, CEO of RES in the Americas. "We are proud of our work in developing projects that focus on clean energy and a sustainable future. This deal and our partnership with Scout bring us closer to our vision of a future where everyone has access to affordable zero carbon energy."
The Blue Sky facility will be constructed near Morris, Illinois and is scheduled to begin commercial operations in 2024. Upon reaching commercial operations, Blue Sky will provide an estimated 585,000 megawatt hours of carbon-free, renewable electricity to the PJM grid each year, enough to power over 67,000 Illinois homes.
"Scout expects to invest over $400 million to bring Blue Sky through construction and into operations and will support over twenty new jobs in the ongoing operations phase. The power generated from this project will enable Scout to bring the many benefits of low cost and carbon-free solar energy to central Illinois," explained Rucker.
The project has a finalized and executed Property Tax Abatement Agreement in place with all taxing jurisdictions in Grundy County. It is estimated that the county taxing jurisdictions will receive $36.3 million in tax revenue over the life of the project, including $25.4 million slated to the local school district alone.
"Scout has accomplished so much in the last year which is a testament to our incredible team of experienced renewable energy professionals and to the ongoing support provided by our sponsor, Quinbrook Infrastructure Partners," continued Rucker. "Blue Sky Solar is among our first utility- scale solar projects and is another major step in Scout's rapid growth as a leading US renewable energy developer, owner and operator. We expect to announce further project investments and closings of PPAs in early 2022."
Scout is a portfolio company of Quinbrook Infrastructure Partners, a specialist global investment manager focused exclusively on renewables, storage, and grid support infrastructure.
About Scout Clean Energy
Scout Clean Energy (www.scoutcleanenergy.com) is a renewable energy developer, owner-operator headquartered in Boulder, Colorado with over 1,200 MW of operating assets. Scout is actively developing a portfolio of over 12,000 MW of onshore wind, solar PV, and battery storage projects across 17 US states. Scout has expertise in all aspects of renewables project development, permitting, power marketing, finance, construction, 24/7 operations, and asset management. Scout is a portfolio company of Quinbrook Infrastructure Partners.
About Quinbrook Infrastructure Partners
Quinbrook Infrastructure Partners (http://www.quinbrook.com) is a specialist investment manager focused exclusively on renewables, storage and grid support infrastructure and operational asset management in the US, UK, and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested c.USD 8.2 billion equity in energy infrastructure assets since the early 1990s, representing a total enterprise value of c.USD 28.7 billion or 19.5 GW of power supply capacity. Quinbrook has completed a diverse range of direct investments in both utility and distributed scale onshore wind and solar power, battery storage, reserve peaking capacity, biomass, fugitive methane recovery, hydro and flexible energy management solutions in the US, UK, and Australia.
About RES
RES is the world's largest independent renewable energy company active in onshore and offshore wind, solar, energy storage and transmission and distribution. At the forefront of the industry for over 40 years, RES has delivered more than 22GW of renewable energy projects across the globe and supports an operational asset portfolio exceeding 7.5GW worldwide for a large client base. Understanding the unique needs of corporate clients, RES has secured 1.5GW of power purchase agreements (PPAs) enabling access to energy at the lowest cost. RES employs more than 2,000 people and is active in 10 countries.
CONTACT:
Chad Thompson
901-331-0779
