These deposits were made in conjunction with partner Martifer Solar, and will protect the companys position in the California Independent System Operator (CAISO) generator interconnection queue.
Silverado Power, based in San Francisco, is a wholesale solar development company created as a joint venture with Martifer Solar, a global energy and infrastructure company.
These investments demonstrate Silverados commitment to the bringing our renewable energy projects on-line. We are serious about expanding our place in the California energy market and are excited about the competitive projects we have moving forward, said Hans Isern, Chief Operating Officer for Silverado Power.
Due to limited transmission capacity, the interconnection financial security is used by utilities to support investments in the infrastructure system or grid upgrades. The financing is provided by developers with the most viable projects in the queue.
These investments support the development of Silverados high quality projects that have power purchase agreements with utilities, and have strong community and political support. They demonstrate the growing strength of Silverados 2.8 gigawatt project portfolio, said Isern.
Silverado recently announced new power purchase agreements with Southern California Edison and San Diego Gas & Electric.
