- $2.5 Million Transaction
- 72 acre site
- 190,000 SF Port Authority Industrial Project
- 2 MW + 3 MW expansion
- Construction Start: 2017
- Eureka, California
REDWOOD TERMINAL II
In 2016, Atwater was selected by Humboldt Port Authority as the solar development partner for the Redwood Terminal II. The project is owned by the Port and will build an initial 2 MW (Mega Watt) solar project with up to 3 MW additional expansion. The result of this new development will create the most carbon neutral port in the United States.
The project includes a 20-year power purchase agreement from the Port, plus an up-front payment to the Port of $500,000 for capex unrelated to the solar project. Atwater was able to bond the savings from the solar project and use this to create “project equity” which the port could use for other infrastructure needs.