TERRA-GEN CELEBRATES COMMERCIAL OPERATION OF $950 MILLION LOCKHART SOLAR AND STORAGE PROJECT

• With 538.7 MW of capacity, the facility can meet the annual energy needs of approximately 350,000 homes and businesses.

SAN DIEGO, Nov. 10, 2026 /PRNewswire/ -- Terra-Gen, one of the largest independent, integrated renewable energy producers in the United States, jointly owned by Masdar and Igneo Infrastructure Partners, celebrated the completion of its $950 million Lockhart Solar and Storage project in San Bernardino County, California.

The milestone was commemorated with a ribbon-cutting ceremony at the Hinkley facility, bringing together company employees, local and state officials, commercial lenders, project partners and customers.

"Today is about recognizing the people and partnerships that brought Lockhart to life and celebrating what this project means for the region," said John O'Connor, chief executive officer at Terra-Gen. "Solar is one of the most economical sources of new electricity, and storage extends its value by making that energy available when it's needed most. At the scale of our Lockhart facility, that combination can make a meaningful difference for California's growing electricity needs."

The Lockhart complex includes more than 925,000 solar modules and 248 battery enclosures. Its 365 megawatts (MW) of solar generation and 173.7 MW of battery storage generate enough electricity to meet the annual needs of approximately 350,000 homes and businesses.

Engineering and construction of the solar and storage complex created more than 1,000 on-site jobs with 880,000 hours worked over four years.

The project's economic benefits will extend beyond construction, as it's expected the facility will generate more than $40 million in property tax revenue over its operating life, along with additional contributions and benefits to the local community.

"We are grateful for our employees and contractors whose hard work and dedication were instrumental in bringing the facility into operation," said Simon Day, vice president and head of solar development at Terra-Gen. "Their commitment to delivering the project on schedule and on budget while maintaining a strong focus on safety made this milestone possible."

Cupertino Electric served as the balance-of-plant engineering, procurement and construction contractor, while EPC Services served as the high-voltage contractor for the project. Solar modules were supplied by First Solar and tracking systems by Nextpower. The Lockhart facility has a combination of offtake agreements with corporate buyers and long-term power purchase agreements with California load-serving entities.

About Terra-Gen

Terra-Gen, LLC is a leading U.S. developer, owner and operator of utility-scale renewable energy projects in North America. Terra-Gen's gross operating portfolio comprises 4.4 GW of wind, solar and battery storage projects, including 5.6 GWh of energy storage facilities across 34 renewable power sites throughout the U.S., predominantly in California and Texas. Terra-Gen is owned by Abu Dhabi Future Energy Company PJSC – Masdar ("Masdar"), the United Arab Emirates' clean energy powerhouse, and Igneo Infrastructure Partners, a leading global investment manager with US$24.5 billion in direct infrastructure assets. For more information, visit www.terra-gen.com.

About Igneo Infrastructure Partners

Igneo is an autonomous investment team in the First Sentier Group. It invests in high-quality, mature, mid-market infrastructure companies in renewables, digital infrastructure, waste management, water utilities and transportation / logistics sectors in the UK, Europe, North America, Australia and New Zealand. Operating since 1994, the team works closely with portfolio companies to create long-term sustainable value through innovation, a focus on ESG and proactive asset management.

Igneo manages US$24.5 billion worth of assets as of 31 March 2026 on behalf of more than 200 investors around the world. For more information, visit igneoip.com.

About Masdar

Established in 2006, Masdar (Abu Dhabi Future Energy Company) is leading the global energy transformation by investing in, developing and operating renewable energy projects that deliver commercial returns while providing reliable, affordable clean power worldwide.

With over 20 years' experience in renewables, Masdar has a diverse, derisked portfolio totaling over 65 gigawatts (GW) across six continents, including the world's fastest-growing energy markets.

Jointly owned by TAQA, ADNOC and Mubadala, Masdar is driving the scale-up of renewables worldwide, targeting a portfolio capacity of 100GW by 2030.

For more information please visit: https://www.masdar.ae and connect: facebook.com/masdar.ae and https://x.com/Masdar.

SOURCE Terra-Gen Operating Company, LLC