Big solar projects in the U.S. are back in style and the Lone Star state is a hotbed of developer activity.
These large solar projects are no longer driven by RPS edicts or government loan programs — but by corporate clean energy buyers, utility offtakers and the sheer competitive pricing of solar (or solar-plus-storage) compared to other generation sources.
Big solar project news, Texas edition
Texas is perfect for big solar. Although the state has no renewable portfolio standard, it has Texas sun, lots of land and a competitive energy-only marketplace. Texas is projected to be the No. 2 state in new solar capacity over the next five years, according to SEIA, and remains one of the fastest growing solar energy markets in the country.
Here are five enormous Texas solar projects at various stages of development in the news.
200-MW Holstein Solar
Duke announced the commercial operation of its Holstein Solar project in Nolan County, Texas last month.
The project was acquired from developer 8minute Solar Energy which also brought hedge, tax equity and debt counterparties to the project. The project is 8minute’s first completed installation in Texas and the company has four others in development in Texas, totaling almost 1 gigawatt in capacity. According to the company, the portfolio is expected to generate roughly $1 billion in capital investment, $60 million in land payments and $120 million in local tax revenues. The projects are also expected to create more than 1,000 construction jobs and another 2,000 indirect jobs.
The Holstein project will contain over 709,000 solar panels across approximately 1,300 acres in Wingate, Texas. Much of the energy generated from the Holstein Solar Project will be sold through a 12-year term hedge agreement to J. Aron & Company, a subsidiary of Goldman Sachs — the first Duke solar project to utilize a hedge agreement.
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