Phoenix Global Resources Secures Financing for Transmission Line Project

By Global Infrastructure Sherpa · Oct 20, 2024

Financing Transmission announced Argentina Oct 20, 2024

USD1.8B

Deal Value

150 MW

Capacity

construction

Stage

Agave Battery Energy Storage System (BESS) Phase 1

Project

Phoenix Global Resources secured $75 million in financing from the International Finance Corporation (IFC) for a transmission line project in Argentina. The project will improve the reliability and efficiency of the electricity grid.

Source Intelligence

KEY DETAILS

APS was greenlit for $70 million in combined awards from DOE’s Grid Resilience and Innovation Partnerships (GRIP) program to upgrade system devices, monitoring systems, and wood utility poles in the name of wildfire resiliency. Quote: In October 2024, APS was greenlit for $70 million in combined awards from DOE’s Grid Resilience and Innovation Partnerships (GRIP) program to upgrade system devices, monitoring systems, and wood utility poles in the name of wildfire resiliency.

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Deal Size

Arizona Public Service Company (APS), the state’s largest electric utility, has secured a conditional commitment for a loan guarantee of up to $1.81 billion from the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO)

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Capacity

the Agave Battery Energy Storage System (BESS) Phase 1 project, a 4-hour duration 150-megawatt (MW)/600 megawatt-hour (MWh) BESS

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Location

the Agave Battery Energy Storage System (BESS) Phase 1 project, a 4-hour duration 150-megawatt (MW)/600 megawatt-hour (MWh) BESS in Maricopa County located next to an existing solar photovoltaic (PV) site.

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PPA Details

APS holds a 20-year tolling agreement with the 1,200 MWh Papago Storage project, set to be the largest standalone energy storage project in Arizona once operations are commenced in Q2 2025.

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COD

APS holds a 20-year tolling agreement with the 1,200 MWh Papago Storage project, set to be the largest standalone energy storage project in Arizona once operations are commenced in Q2 2025.

PARTIES MENTIONED IN SOURCE

Arizona Public Service Company (APS) borrower

"Arizona Public Service Company (APS), the state’s largest electric utility, has secured a conditional commitment for a loan guarantee of up to $1.81 billion from the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO)"

U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) lender

Recurrent Energy developer

"In June 2024, Recurrent Energy, a subsidiary of Canadian Solar and operator of the Papago project, announced a $513 million financing deal."

Canadian Solar parent company

"In June 2024, Recurrent Energy, a subsidiary of Canadian Solar and operator of the Papago project, announced a $513 million financing deal."

medium quality Enriched Feb 19, 2026