Verizon-backed Texas Solar Park Powers Up
- Clearway Energy Group's Texas Solar Nova park, powered by 1.1 million panels, helps Verizon reach renewable energy goals while attracting major off-takers like SKF AB and Toyota Boshoku America Inc.
Clearway Energy Group has completed a 452-MW solar complex in Texas, with Verizon as the primary off-taker. The Texas Solar Nova park, constructed in two phases at a cost of $660 million, consists of 1.1 million panels and is expected to power over 190,000 homes annually. This project will help Verizon achieve its renewable energy goals, including sourcing 50% of its electricity from renewables by 2025 and reaching net zero by 2035.
Renewable Energy Certificates from the site will be purchased by SKF AB and Toyota Boshoku America Inc, with the latter having a 12-year contract for RECs from the first phase. A lending consortium including Natixis, DNB, MUFG, NordLB, and Societe Generale provided debt funding for the project, showcasing the strong financial support for large-scale renewable energy developments.
What companies are purchasing Renewable Energy Certificates from the Texas Solar Nova park?
- SKF AB
- Toyota Boshoku America Inc
