Masdar completes 365 MW solar-plus-storage Lockhart complex in California
Masdar announced completion of the $950 million Lockhart Solar and Storage complex in California, pairing 365 MW of solar photovoltaic generation with 173.7 MW of battery storage. The project was developed by Terra-Gen, which Masdar jointly owns with Igneo Infrastructure Partners, and is designed to generate enough electricity for roughly 350,000 homes and businesses. Its output is contracted through a mix of long-term power purchase agreements with California load-serving entities and corporate offtake agreements, and construction spanned about four years, peaking above 1,000 on-site jobs. Masdar says it has invested roughly $3 billion in the U.S. so far and plans another $20 billion over the next decade, targeting up to 25 GW of U.S. renewable capacity by 2030 — targets, not yet built capacity.
Context
Solar-plus-storage plants pair PV panels with batteries that charge on surplus midday generation and discharge later, typically into evening peaks; here the battery capacity (173.7 MW) is roughly half the solar capacity (365 MW). The developer, Terra-Gen, is jointly owned by Masdar and Igneo Infrastructure Partners, so the completed Lockhart complex sits inside a portfolio Masdar already co-owns rather than marking a new market entry. Masdar says it has invested about $3 billion in the U.S. to date.
Impact
Because the output is already sold under long-term utility and corporate agreements, the new capacity enters the contracted supply of California load-serving entities and corporate buyers rather than the merchant market. The article does not disclose the battery’s storage duration, so how much solar energy the 173.7 MW can shift into evening peaks — the main grid-stability value of pairing storage with PV — remains unquantified. Masdar also projects the facility will deliver upwards of $40 million in local property tax revenue over its operating life.
