Terra-Gen celebrated the completion of its Lockhart solar and battery storage complex on November 10, 2026, in Hinkley, San Bernardino County (California). The ribbon-cutting ceremony marks the end of a build whose components entered commercial operation in stages. The co-located batteries came first, followed by the third solar phase and then the final solar phase, each of which had its own press release. The sector remains active financially, as shown by the fact that SolaREIT surpasses $8.5 billion in financed solar and storage projects, while suppliers sign procurement contracts such as JA, which will exclusively supply modules for the 120 MW Sediba solar project.

A summary of phases already announced

The completion press release gathers information that had been published piecemeal over the course of the phases. According to Terra-Gen, it adds the total cost, the jobs created and the expected tax revenue. The company declares an overall cost, with no breakdown by phase and no clarification of scope. It is unclear whether it includes the first solar phases, the older standalone storage and the phases built on the former solar thermal site.

The complex combines a solar plant and a battery fleet, two quantities that are not measured in the same way. Solar capacity indicates what the panels can feed in at a given moment, while storage capacity indicates what the batteries can discharge instantaneously. The energy the batteries can deliver also depends on their discharge duration, and Terra-Gen does not publish an overall total. The combined capacity the company highlights adds solar capacity to storage capacity: it represents neither annual output nor the power that can be injected simultaneously into the grid, the limit for which has not been published. The equivalence in homes and businesses remains a company estimate, and its method is not detailed.

Bank financing and project participants

The only publicly detailed financing concerns the final solar phases. It includes a tax equity bridge loan, an advance from banks pending the arrival of "tax equity" investors who provide funding in exchange for tax credits. It also includes a construction loan that later converts into a term loan and undrawn facilities, meaning credit lines that are available but unused. These commitments are provided by Crédit Agricole Corporate and Investment Bank, ING, NORD/LB and U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank. They are financing commitments rather than a construction cost, so they cannot be compared with the overall cost.

Terra-Gen, the developer, owner and operator of the complex, is owned in equal shares by Masdar and Igneo Infrastructure Partners. John O'Connor, Chief Executive Officer, who succeeded Jim Pagano, spoke at the ceremony. Cupertino Electric, EPC Services, First Solar and Nextpower are among the contractors. Pacific Gas and Electric is the identified buyer of the batteries' services, and Southern California Edison operates the Kramer Junction interconnection substation.