Verizon-backed Solar Farm Powers Up in Texas

• Leeward Renewable Energy shines bright with 200-MW Horizon Solar plant in Texas, powering up with First Solar's Series 6 PV modules. A win-win for sustainability and job creation.

Leeward Renewable Energy has successfully started up its 200-MW Horizon Solar plant in Frio County, Texas, using First Solar's Series 6 PV modules. The plant will operate under a 15-year power purchase agreement with Verizon Communications Inc, which has procured up to 640 MW of wind and solar energy from Leeward's new projects to support additionality.

In order to promote the Horizon Solar project, Leeward secured USD 75 million in construction to term financing and a USD 105 million tax equity commitment. The completion of the project also created approximately 400 jobs during the construction phase, showcasing the positive impact of renewable energy projects on local economies.

How did Leeward Renewable Energy finance and promote the Horizon Solar project?

• Leeward Renewable Energy secured USD 75 million in construction to term financing to support the development of the Horizon Solar project.
• The company also obtained a USD 105 million tax equity commitment to help finance the project.
• Leeward entered into a 15-year power purchase agreement with Verizon Communications Inc to sell the electricity generated by the Horizon Solar plant.
• The Horizon Solar project used First Solar's Series 6 PV modules for its 200-MW capacity.
• The completion of the project created around 400 jobs during the construction phase, demonstrating the positive impact of renewable energy projects on local economies.