Hinkley:Abu Dhabi Abu Dhabi Future Energy Company PJSC - Masdar has successfully completed the $950 million Lockhart Solar and Storage complex in California, a significant advancement in the company's expanding renewable energy portfolio in the United States. The project, developed by Terra-Gen—a joint venture between Masdar and Igneo Infrastructure Partners—comprises over 925,000 solar modules and 248 battery enclosures, collectively generating 365 megawatts (MW) of solar power and 173.7 MW of battery storage. This capacity is sufficient to fulfill the annual electricity needs of approximately 350,000 homes and businesses.
According to Emirates News Agency, the completion of the Lockhart project underscores Masdar's ambitions in the United States and its commitment to supporting the country's growing energy demands. Khaleefa Almheiri, President and CEO of Masdar Americas, highlighted the significance of the project by emphasizing the partnership's ability to deliver reliable and affordable power, create skilled jobs, and support economic growth. Almheiri noted the importance of their collaboration with Terra-Gen in harnessing Masdar's global expertise and investment capabilities alongside Terra-Gen's local presence.
The achievement was celebrated with a ribbon-cutting ceremony at the Hinkley facility, attended by company employees, local officials, commercial lenders, project partners, and customers. John O'Connor, CEO of Terra-Gen, remarked on the economic viability of solar energy combined with storage solutions, stressing its impact on meeting California's increasing electricity needs.
The construction and engineering phase of the solar and storage complex generated over 1,000 on-site jobs and accumulated 880,000 hours of labor over four years. The project is projected to continue providing economic benefits beyond the construction period, with expected property tax revenue exceeding $40 million over its operational life, along with additional community benefits.
Furthermore, the Lockhart facility maintains a combination of offtake agreements with corporate buyers and long-term power purchase agreements with California load-serving entities. Masdar's investment in the United States amounts to approximately $3 billion, with plans to invest an additional $20 billion over the next decade as it aims to expand its US portfolio to up to 25 gigawatts by 2030. Through Terra-Gen, Masdar is committed to supporting American jobs, local manufacturing, and supply chains, while delivering the energy infrastructure essential for long-term economic growth.