Supporting Renewable Energy Projects

Capital One invested more than $90 million of tax equity alongside Duke Energy Renewables in the Jackpot Solar project, located in Twin Falls, Idaho. With a total generating capacity of 120 megawatts, the Jackpot solar project is currently the largest operating solar project in Idaho. Capital One’s Commercial Bank Alternative Energy Finance team supplied 100 percent of the tax equity for the Jackpot project.

“We are excited to invest alongside Duke Energy Renewables, a leading developer of wind and solar projects, and be able to finance such an important renewable energy project,” said George Revock, Head of Capital One’s Alternative Energy team. “Projects like these are an investment that benefits the local community in Idaho and advances Capital One’s sustainability efforts.”

Located in Twin Falls County, the project comprises 372,000 solar modules. Idaho Power Company, a regulated utility serving 600,000 customers in Idaho and Oregon, has signed a 20-year power purchase agreement for energy generated by the facility.