BayWa r.e. Closes $416 Million for San Diego Solar-Plus-Storage, Breaks Ground on JVR Energy Park
The project is slated to begin delivering power to San Diego Community Power in fall 2026 using a 280 MWh battery paired with utility-scale solar.
Overview
- The financing combines a construction-to-term loan led by Société Générale with preferred equity from funds managed by Wafra Inc. and Acadia Infrastructure Capital, alongside a tax credit transfer to a large corporate buyer.
- Construction is underway in southeastern San Diego County, with BayWa r.e. projecting service to roughly 57,000 homes once the facility is online in fall 2026.
- Published reports differ on solar capacity, with pv magazine USA citing 90 MW and Solar Power World reporting 127 MWDC, while both confirm 280 MWh of storage.
- BayWa r.e. expects about 350 union construction jobs through project labor agreements, with a smaller number of long-term operational roles to follow.
- The company committed $4 million in local investments, set aside five acres for a new Jacumba fire station, and established a 435-acre biological open-space easement to avoid sensitive habitats.