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7X Energy, Inc. (“7X”), a leading utility-scale solar developer, owner, and asset manager, announced it has partnered with Nestlé to be the sole tax equity investor for its 250 MWac Taygete I Energy Project (“Taygete I” or “Project”) located in Pecos County, Texas. 7X has now successfully originated 1,350 MWac of solar projects either in operation or under construction in Texas. The projects combined represent a capital injection of over $1.5 billion dollars.
Taygete I construction activities are complete and the Project is in the final energization phase with full commercial operation expected in early 2021. 7X Energy, the project owner, will also be the asset manager. A portion of the energy generated from the Taygete I solar project will be sold through a long-term hedge agreement to J. Aron & Company LLC., a subsidiary of Goldman Sachs. The other power purchaser is an S&P A- Rated entity.