September 14, 2023
CleanCapital unveiled a brand new 8.5 MW solar venture in Houston, Alaska, the biggest ever construct within the state.
While the venture was introduced at RE+ 2023 in Las Vegas, the venture group held a ribbon chopping ceremony on August 29, 2023 marked its interconnection to the native utility grid.
The solar venture was developed and constructed by Renewable IPP (RIPP), an Alaska-based solar developer. CleanCapital supplied financing for the venture development and serves because the long-term owner-operator of the location. In addition to development financing, CleanCapital’s funding funded RIPP’s operations to speed up the event of its pipeline in Alaska.
The solar farm, constructed on “raw” land, was designed to attenuate disturbance to the soil and vegetation. Unique options embody a deal with land preservation and an engineering strategy to deal with Alaska’s excessive climate circumstances. Affordable Wire Management (AWM) used an above floor wire technique, with rugged steel cable hangers engineered to face up to corrosive environments and intense ice and snow masses.
“Since its inception, CleanCapital has been driven by a mission to accelerate the transition from fossil fuels to clean, renewable energy. I cannot imagine a better illustration of the importance of that mission than bringing solar to an oil and gas-centric state where the impacts of climate change are so vividly felt,” stated Thomas Byrne, CEO at CleanCapital. “This project demonstrates the viability and economic rationale for adopting solar in Alaska, and we are proud to have played a role in building such a historic project.”
While oil and pure fuel are central to Alaska’s economic system and stay Alaska’s main energy sources, residents and state leaders alike acknowledge the necessity to diversify the state’s energy era. Today, 70%-80% of South-Central Alaska’s power and most of its warmth is generated utilizing a single supply: Cook Inlet pure fuel. Cook Inlet pure fuel producers have cautioned about depleting assets, and importing pure fuel would additional enhance the area’s excessive energy prices. Until now, the state had not constructed wind or solar tasks on the scale wanted to assist the state meet its diversification and energy provide wants. The Houston solar venture will assist paved the way to a brand new energy combine inside the state whereas offering lower-cost energy to the area people of Matanuska-Susitna Valley.
“We are thrilled at the cohesive partnerships formed among RIPP, CleanCapital, AEA, and MEA that resulted in the completion of this historic solar project,” stated Jennifer Miller, CEO at Renewable IPP. “We took special care and consideration when constructing this project to take full advantage of the unique location and combat the typical challenges of bringing renewables to Alaska. This project is the largest of its kind in the state and we aim to continue developing cost competitive renewable energy projects to shore up Alaska’s energy supply and suppress energy prices for residents and local businesses.”
Matanuska Electric Association (MEA) will buy cost-competitive power from the venture to learn its members. The venture was additionally supported by a mortgage from the Alaska Energy Authority (AEA).
“MEA is excited to partner with Renewable IPP to expand the amount of clean energy on our system,” stated Tony Izzo, CEO of the affiliation. “Member surveys indicate people want MEA to produce more power with renewable energy, but not at an additional cost. We believe this project achieves that goal while helping MEA responsibly meet the board’s clean energy targets.”
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Tags: CleanCapital, Renewable IPP, utility-scale
