Bridge Renewable Energy, a subsidiary of Bridge Investment Group Holdings Inc., Solaris Energy and WATTMORE, announced their successful closing and the kickoff of 1.8 MW of solar and storage projects across multiple facilities on the Rincon Reservation in San Diego County, California. This deal marks the completion of nearly three years of planning, designing, grant writing and finance modeling.
“We are very excited to move forward on this new project and are committed to providing renewable energy to our people, residents and businesses on our reservation. Together with our new partners, we are building a cutting-edge solar + storage project to lower our carbon output, and decrease our monthly energy costs,” said Chairman Bo Mazzetti of the Rincon Tribe.
“We are excited to hit this milestone. The Tribe-elected board, staff and consultants have been terrific partners so far. The next step is to move dirt and start building this exciting solar + storage project,” said Bridge Renewable Energy’s Adam Haughton.
Solaris Energy and WATTMORE co-developed this project using complementary skill sets to combine incentives from the new federal Inflation Recovery Act signed into law in 2022 with State and federal grants, allowing maximization of the economics and impact for both the Tribe and the investment partner Bridge Renewable Energy.
“We’re proud to bring our passion for creative, impactful, Tribal projects and decades of renewable energy financing and development expertise to the table to help bring this project to fruition,” said Solaris Energy CEO Nick Perugini. “We’re so grateful for the Tribe’s continued commitment and for our partners in storage and financing, as well as Prosper Sustainability, Microgrid Initiatives, the Department of Energy, and California Energy Commission who all dedicated substantial resources and conducted an exceptional job to get us to this point,” added Perugini.
News item from Solaris Energy
