Luminate is proud to serve as the Independent Engineer for Fengate Asset Management’s (Fengate) and Alpha Omega Power’s (AOP) Caballero Energy Storage Project, a 100-MW / 400-MWh battery energy storage system (BESS) located in Nipomo, San Luis Obispo County, California. Our team played a pivotal role in supporting Fengate and AOP throughout the acquisition process from Origis, the construction financing with MUFG, and the tax equity commitment from U.S. Bank.
Caballero marks the first investment by Fengate and AOP, who formed a strategic partnership in 2023 to develop, acquire, and operate BESS projects. The project recently achieved a significant milestone with the successful closing of its tax equity commitment from U.S. Bank and is on track to begin commercial operations in early 2025. For more information, please refer to the official Fengate press release or the Linkedin post.
