Switch and Capital Dynamics Break Ground on Massive Solar and Battery Storage Developments, Advancing Rob Roy’s Gigawatt Nevada

The project, Gigawatt 1®, includes the largest behind-the-meter solar plus battery project in the world and will create more than 1,000 new jobs

PVTIME - Switch (NYSE: SWCH) and Capital Dynamics today announced three groundbreakings in Nevada, which, along with an earlier phase, will continue Switch Founder and CEO Rob Roy’s Gigawatt Nevada solar energy and battery vision to develop one of the largest solar footprint and battery storage projects in the technology industry.

“In the midst of this unprecedented moment in our state’s history,
Switch and its partners are investing $1.3 billion, creating over a
thousand new jobs and accelerating Nevada’s leadership in the world’s
renewable energy economy,” said Nevada Governor Steve Sisolak. “Projects
like this are exactly what the Legislature had in mind when it passed
and I signed SB547 to expand investment and jobs in Nevada.”

The massive scale of these phases of Gigawatt 1 will use thousands of
solar panels made by First Solar, an American company and battery
storage utilizing Tesla Megapack which is manufactured in Storey County, Nevada, at the Tesla Gigafactory.

“With today’s announcement Rob Roy’s Gigawatt Nevada now has four
solar with battery storage projects in the state creating nearly 1
gigawatt of energy solutions,” said Adam Kramer, Switch EVP of Strategy.
“This project also ensures Switch’s power costs will remain in the 5
cent a KWh range and Switch clients will continue to enjoy low-cost,
100% renewable power for decades to come.”

With these new groundbreakings in Clark and Storey counties, plus the original Townsite development,
Gigawatt 1 will soon generate a total of 555 MW of solar power and
create 800 MW hours of battery storage. Additionally, the Storey County
location will be the largest behind-the-meter solar project in the world
producing 127MW and will include a 240 MW hour battery storage system.
Behind-the-meter projects generate power off the public grid, placing no
burden on legacy public utility production.

“The Capital Dynamics Clean Energy Infrastructure team is delighted
to work closely with Switch who has demonstrated extraordinary
leadership as a technology company in sustainability both in Nevada and
nationwide,” said Benoit Allehaut, Managing Director on Capital
Dynamics’ Clean Energy Infrastructure team. “We are also pleased to have
collaborated with Tesla to install Megapack energy storage systems on
four hybrid solar and storage projects in California and Nevada. This
selection was the result of a comprehensive due diligence process. We
believe that industry leadership is achieved through scale and
innovation and are pleased with the tremendous progress we have made in
combined solar and storage plants thanks to Switch and Tesla.”

The integrator of Gigawatt 1 is Con Edison Clean Energy Businesses who will use the Tesla Megapack.

“We are pleased to play a significant role in this groundbreaking
initiative,” said Mark Noyes President and CEO of Con Edison Clean
Energy Businesses. “The innovative partnership between all parties
involved will continue to drive the sustainability agenda for Switch and
the State of Nevada.”

The announcement drew praise from leading national renewable energy
advocates as well. “Nevada can enjoy the benefit of needed economic
growth and strike a critical balance for the environment and precious
natural resources,” said long-time clean energy proponent Rose
McKinney-James, managing partner of Rose McKinney-James and Associates
and Energy Works LLC. “This project represents a major advancement for
Nevada and we applaud Switch and their partners for continuing to push
the envelope of sustainable business operations and renewable energy.”

Energy shaping, development, construction, asset management &
operations of all projects will be led by Capital Dynamics’ affiliate
Arevon, who performs these services for more than 5GW of wind and solar
assets on behalf of Capital Dynamics.