Swift Current Energy has secured project financing for the 800 MW (DC)/593 MW (AC) Double Black Diamond solar project. Once operational, it will be the second largest solar project in the United States. More than $779 million in project financing was closed for this project, making it among the largest solar project financings in US history.

Located 30 miles west of Springfield, Illinois, the project is currently under construction and is expected to reach commercial operation in 2024. It is expected to produce enough electricity to provide the equivalent of 100,000 homes and will offset an estimated 1 million tons of carbon dioxide emissions per year.

Approximately 450 construction workers are employed at the site, and McCarthy Building Companies is operating as the engineering, procurement, and construction (EPC) partner. First Solar modules, the majority of which are manufactured in the United States, and US-made Nextracker solar trackers were selected for the project.

“Double Black Diamond Solar is a transformative project, not only for our team, but also the American workers it is employing, the massive amount of emissions-free energy it will produce, and the stable revenue it will provide for the communities in Sangamon and Morgan counties,” said Eric Lammers, chief executive officer of Swift Current Energy.

The project is expected to provide $100 million in tax revenue to Sangamon and Morgan counties in central Illinois.