Recurrent Energy LLC, a utility-scale solar and storage project developer, has begun construction of the 100 MW AC Sunflower Solar Project in Sunflower County, Miss.
To aid construction on the project, Recurrent Energy recently completed debt financing totaling over $ 146 million, including construction loan and letter of credit. External financing was provided by Norddeutsche Landesbank and Rabobank.
Sunflower is one of the first utility-scale solar projects to be built under a construction transfer agreement in the United States. Recurrent Energy signed a BTA with Entergy Mississippi in 2018 designating the regulated utility company to own the Sunflower solar project when it goes into commercial operation in early 2022.The BTA was unanimously adopted by the Mississippi Public Service Commission in April 2020.
"The Sunflower Solar project is another major milestone in the ongoing transformation of Entergy's power generation portfolio – meeting customer needs with efficient power sources while maintaining some of the lowest retail prices in the country," said Haley Fisackerly, President and CEO of Entergy Mississippi. “Entergy's investments in its generation portfolio have significantly reduced the company's greenhouse gas emissions and provided customers with significant savings through lower fuel costs. We appreciate the positive economic impact on Sunflower County and the Mississippi Delta. "
The Sunflower solar project is expected to employ around 400 people at peak times. 75% of this construction work is expected to be occupied by local professionals from the region. The Sunflower Solar Project will bring further economic benefits to the local community by providing Sunflower County with local sales and property tax revenues, as well as indirect benefits such as increased local spending for the service and construction industries. The project will use Canadian Solar's high efficiency modules.
Photo: Haley Fisackerly
Comments are closed.