Goldman Sachs invests in 123 MW American Kings Solar project in Kings County

Goldman Sachs Renewable Power LLC (GSRP), a private company managed by the Renewable Power Group of Goldman Sachs Asset Management (GSAM), has acquired the 123 megawatt (MW)AC American Kings Solar project in a transaction that closed at the end of June 2020. Located in Kings County, California, the project is backed by a 15-year Power Purchase Agreement (PPA) with Southern California Edison and is scheduled to be commissioned in the fourth quarter of 2020.

The facility will be powered by First Solar’s Series 6 photovoltaic (PV) modules, designed and developed at the company’s research and development (R&D) centers in California and Ohio.

Once operational, American Kings will displace 78,000 metric tons of CO2-equivalent annually, which is equivalent to taking 15,000 cars off the road every year and saving 79 million liters of water annually, based on California averages. The air quality benefits of the project will amount to more than US$12 million in avoided healthcare costs annually.