Avantus and Toyota Tsusho America have begun construction on the 159 MW Norton Solar Project in Runnels County, Texas.
Issuance of a Notice to Proceed follows Avantus’ sale of the Norton project last November to TAI, a subsidiary of Toyota Tsusho Corporation of Japan, one of the Toyota Group Companies. TAI has closed on a construction and term financing agreement with Mitsubishi UFJ Financial Group, while a PPA has also been secured with a corporate customer for the project.
Avantus will oversee construction of Norton, which is expected to begin operations late next year. RES will provide the EPC services for the project.
“Texas is energy country, and that includes massive opportunities in solar,” says Avantus chief financial officer Patrick Goff.
“The Norton Solar Project represents the best of what we do at Avantus: develop high-quality clean energy projects that are good for our customers, for the local economy, and for the planet. This project was six years in the making, and I am proud of our team’s persistence in getting Norton shovel-ready and for securing the project’s successful sale to Toyota Tsusho America to help meet their sustainability goals.”
Norton marks the seventh project Avantus has developed and sold in Texas, bringing the total amount of energy it has developed in the state to 2 GW.
