The US solar developer Pristine Sun Corporation has secured financing to develop up to 5 GW of solar PV projects, including three projects of over 1 GW in capacity, in the US states of Texas, California, and Louisiana. The US$250m capital commitment from comes from strategic private equity and family office investors. The equity commitment will allow Pristine Sun Corporation to develop, finance, and build the solar projects, as well as allow the company to explore additional opportunities in the continental US. Pristine Sun Corporation has so far developed more than 350 solar and wind projects totalling more than 2 GW renewable capacity.
In 2021, solar represented 8% of the US’ installed capacity with 107 GW and 3.5% of its power generation with 149 TWh. The country currently has more than 21 GW of solar capacity under construction and 51 GW under development. The US’ Energy Information Administration (EIA) forecasts that 29 GW of new solar capacity will be commissioned in the country in 2023.