Masdar finishes $950 million Lockhart solar and storage complex in California

Abu Dhabi developer Masdar has announced that its Lockhart Solar and Storage complex in California is complete. The project cost $950 million. Terra-Gen built the site, and Masdar holds a stake in the company alongside Igneo Infrastructure Partners, according to the reports.

The complex combines 365 MW of solar photovoltaic capacity with 173.7 MW of battery storage. The owners say the output could meet the yearly electricity needs of about 350,000 homes and businesses. The reports do not explain how that estimate was calculated.

Construction took four years and supported more than 1,000 workers at the peak. Crews logged roughly 880,000 working hours. Over its operating life, the facility is expected to pay upwards of $40 million in local property tax, plus community benefit funds. Its revenue comes from a mix of long-term supply contracts with California buyers and corporate offtake deals.

Masdar says it has already invested about $3 billion in the United States and plans another $20 billion over the coming decade. The company targets up to 25 GW of US renewable capacity by 2030, citing demand from data centers, industrial electrification and manufacturing. Its global goal is 100 GW by the end of the decade.

Still unknown from the reports: the exact terms of the offtake deals, how revenue is split among the owners, and how the batteries will be dispatched to the grid. The 350,000 homes figure is the company's own estimate and should be read that way.