HARQUAHALA FLATS 2

CAISO-2027BetaActiveSolarBatteryCAISOLBNL + Live

821.52 MW hybrid in Maricopa, AZ · In queue since April 2021 · Proposed COD April 2028

BA: AZPSISO/RTO: CAISONERC: WECCRC: SPPW

821.52 MW

Capacity

Components

Solar + Battery

5y 3m

In Queue

System Impact Study

IA Phase

COD target: 2028

Interconnection

Total Duration

7 years

Study Phase

C14

Impact Study25%

Queue EntryApr 15, 2021

Interconnection request submitted to ISO/RTO

Cluster Study (Phase I/II)Current

CAISO uses cluster studies where projects are batched annually and studied together.

Typical: 36–48 months (IR to IA)

Interconnection Agreement

Interconnection agreement not yet executed

Typical: 30–60 days (negotiation)

Commercial Operation

Proposed COD: 2028-04-15

Cross-source intelligence

Beta

High confidence·4 sources·as of 2026-06-01

Expected COD

2027

Queue date 1–2 years staleQueue: 2028-04-15

Developer

Copia Power

From queue filing

Status

Active

Active — PPA executed with APS for 225 MW storage component, $1.2B project financing secured from Carlyle (Apr 2024), construction timeline targeting 2027 COD

Financing

Secured

$1.2 billion project financing closed with Carlyle as lead, announced April 2024

Key milestones

Financing closeApr 2024

$1.2B financing closed with Carlyle for Harquahala Valley solar project

source

IA executed2027

20-year PPA executed with APS for 225 MW battery storage component, 2027 COD

source

COD target2027Most recent

Target commercial operation 2027 per APS 10-K filing

source

Project lifecycle

as of 2024-04-11

OperationalNoThe Business Journals · 2024-04-11

TechnologySolarThe Business Journals · 2024-04-11

DeveloperCopia PowerThe Business Journals · 2024-04-11

About

The Harquahala Flats 2 project is a proposed 821.52 MW hybrid solar and battery energy storage project located in Maricopa County, Arizona. The development project consists of 410.76 MW of solar photovoltaic generation paired with 410.76 MW of battery energy storage. The project, developed by DCRT, is currently active in the California Independent System Operator (CAISO) interconnection queue as queue ID CAISO-2027, with an interconnection queue entry date of April 15, 2021.

The proposed commercial operation date for Harquahala Flats 2 is April 15, 2028. The project's interconnection status is currently in the System Impact Study phase. The point of interconnection is the Delaney Substation 500 kV. The project has been mentioned in recent news coverage.

Generated from interconnection queue and public data sources

CAISO Queue

Development Risk

Realization risk before commercial operation — cluster-study clearance, IA timing, counterparty mix, and withdrawal probability vs cohort. The diligence view that determines whether this project is worth pursuing. Powered by InfraSure's development-stage modeling stack.

Available on the InfraSure platform

See the full development-risk decomposition for this project.

P(COD by stated date)

Withdrawal probability vs cohort

IA cluster risk

Project Details

State

County

Maricopa

Grid Region

CAISO (California)

Market

ISO/RTO Member

Developer

—

Utility

DCRT

Entity

CAISO

Service Type

NRIS

Point of Interconnection

Delaney Substation 500 kV

Data Source

LBNL + Live

DeveloperCopia PowerThe Business Journals · 2024-04-11

TransactionProject financingThe Business Journals · 2024-04-11

Deal value$1.2BThe Business Journals · 2024-04-11

LenderCarlyleThe Business Journals · 2024-04-11

Risk Analytics

Composite operating-phase risk view — what this asset's risk profile would look like once it reaches commercial operation. Climate hazards across its operating life, expected generation variability, and offtake counterparty exposure, decomposed into a single decision-grade score. Powered by InfraRisk.

Available on the InfraSure platform

See the full risk decomposition + scenarios for this project.

Climate hazards (8+)

Generation variability (P10/P50/P90)

Offtake + transmission counterparty

Technology

Solar410.76 MW · 50%

Battery410.76 MW · 50%

Generation Forecast

Forward generation outlook — what this project would produce assuming it reaches commercial operation. Probabilistic ranges (P10/P50/P90) across weather, demand, and policy scenarios, conditioned on the proposed COD. Powered by InfraSure's generation modeling stack.

Available on the InfraSure platform

See the full forecast + scenario decomposition for this project.

P50 conditioned on COD

Capacity factor vs cohort

Weather + policy scenarios

Financial Forecast

Forward revenue, DSCR projection, and financing-close risk — conditioned on commercial operation. The bankability view that determines whether the deal clears its covenants once online. Powered by InfraSure's asset cashflow stack.

Available on the InfraSure platform

See the full revenue + DSCR projection for this project.

Revenue conditioned on COD

Financing close risk

Cohort DSCR comparison

Market Context

Approximate

ISO / RTO: CAISO
Trading Hub: TH_SP15_GEN-APND
Hub Confidence: LOW

This project's market context is estimated from its Point of Interconnection. Hub and node assignments are approximate and based on geographic inference from the POI substation name.

Insights & Articles (1)Beta