CleanCapital, a diversified clean energy company, has added an 8.5 MW solar project in Houston, Alaska, to its operating portfolio.
The solar project – the largest ever built in the state – was developed and constructed by Renewable IPP (RIPP), an Alaska-based solar developer. CleanCapital financed the project construction and serves as the long-term owner-operator of the site. CleanCapital’s investment also funded RIPP’s operations to accelerate the development of its pipeline in Alaska.
The solar farm was designed to minimize disturbance to the soil and vegetation. Unique features include a focus on land preservation and an engineering approach to handle Alaska’s extreme weather conditions. Affordable Wire Management implemented an above-ground wire strategy, with rugged metal cable hangers engineered to withstand corrosive environments and intense ice and snow loads.
Matanuska Electric Association will purchase cost-competitive power from the project to benefit its members. A loan from the Alaska Energy Authority also supported the project.
While oil and natural gas are central to Alaska’s economy and remain Alaska’s primary energy sources, residents and state leaders alike recognize the need to diversify the state’s energy generation. Today, 70%-80% of South-Central Alaska’s power and most of its heat is generated using a single source: Cook Inlet natural gas. Producers of Cook Inlet natural gas have cautioned about depleting resources, and importing natural gas would further increase the region’s high energy costs.
Until now, the state had not built wind or solar projects at the scale needed to help the state meet its diversification and energy supply needs. The Houston solar project will help lead the way to a new energy mix within the state while providing lower-cost energy to the local community of the Matanuska-Susitna Valley.
“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,” states 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.”
