The Bonanza Solar Plant (Bonanza) is located in Bonanza, Oregon in the United States. The 6.8 MWDC solar plant was acquired from leading US developer, Cypress Creek Renewables, LLC, as part of a transaction for a portfolio of utility-scale solar PV plants located in North Carolina and Oregon.
Bonanza is currently under construction and is expected to commence commercial operations in the second half of 2018. The Business has acquired a 100% economic interest in Bonanza, with transfer of funding occurring progressively as various construction milestones are satisfied.
Bonanza has a secured 13.25-year power purchase agreement (PPA) with PacifiCorp, a wholly owned subsidiary of Berkshire Hathaway Energy. PacifiCorp is a US electric power company that primarily operates regulated utilities with a service territory across the US states of Oregon, Washington, California, Utah, Idaho and Wyoming.
Initial energy production of the utility-scale solar plant is underwritten by minimum availability guarantees provided by the operations and maintenance services provider (Cypress Creek O&M, LLC).