Younan Company announces 880MW solar-plus-storage project in California

With plans for an 880 MW solar-plus-storage project in California, private equity firm Younan Company is entering the US clean energy market as it decides to diversify beyond its conventional real estate and hospitality portfolio.

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The Soleil Renewable Energy project, located in East Kern County, will combine large-scale solar generation with a 460 MW battery energy storage system (BESS),a pairing designed to improve grid reliability while maximising clean power delivery during peak demand. The project will be developed by a dedicated Younan subsidiary of the same name.

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According to Younan Company, the interconnection process is already underway with both the California Independent System Operator (CAISO) and the Los Angeles Department of Water and Power. Construction is expected to begin within 18 months, subject to pending environmental reviews and permits. The commercial operations are targeted to start in mid-2028, generating an anticipated annual gross revenue of USD 100 million.

California remains the US solar heavyweight, hosting over 54GW of installed PV capacity across all sectors and projected to add another 22GW within five years, based on Solar Energy Industries Association data. To accelerate this momentum, Governor Gavin Newsom signed an executive order last September to fast-track renewable permitting and protect Inflation Reduction Act tax credits.

Furthermore, in the upcoming years, California will be among the top states to add more solar PV and energy storage capacity to the grid. Governor Gavin Newsom of California signed an executive order last September that will accelerate the permitting of energy generation projects to ensure renewable energy projects do not lose tax credits promised under the Inflation Reduction Act (IRA).

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