A Jacksonville solar company will build solar park in West Texas that will be able to power up to 60,000 homes.
Solar Energy Initiatives Inc. said the 300-megawatt park will be the world’s largest non-utility owned solar park in the Americas. The $750 million project cost doesn’t take into account money the company will generate through the sale of the electricity.
“The size and scope of this venture represents a significant milestone in establishing the company as a true market leader within the rapidly expanding solar deployment sector,” said David Fann, Solar Energy Initiatives CEO. “The deployment of these large scale projects will enhance our ability to negotiate panel prices with solar panel providers, which will enhance our overall margins and drive our profitability.”
The project, which will generate about $100 million in sales during the first year, is expected to be built within six years. It will displace about 700,000 metric tons of carbon emissions.
The company recently secured a contract to build and maintain a 120-acre solar park in California costing up to $80 million. The park will produce 12 to 15 megawatts, with each megawatt having the ability to power up to 200 homes.
