Bank OZK, a regional bank headquartered in Little Rock, Ark., has broken ground on a $6 million solar power plant.
Once complete, the 4.8 MW array will produce enough electricity to power Bank OZK’s new corporate headquarters in Little Rock and up to 40 Bank OZK locations throughout Arkansas. Currently, it is the largest renewable energy investment by a financial services company in the state.
“Bank OZK has a bold vision for the future, which includes a strong commitment to clean energy,” says Tim Hicks, chief credit and administrative officer at Bank OZK. “This solar power plant will allow us to reduce our carbon footprint over the next 30 years.”
The Arkansas Public Service Commission and Federal Deposit Insurance Corp. approved the bank’s plans for the solar power plant in March. Scenic Hill Solar LLC will oversee construction of the 11,000-panel, single-axis array. The facility is expected to generate more than 8.1 million kWh annually. Located in Stuttgart, Ark., it will be the state’s third-largest commercial solar facility dedicated to a private sector customer.