Solar Energy Initiatives Inc. has signed a contract securing land for the design, construction and operation of a solar park in West Texas. A limited liability company (LLC) will be formed to own, finance and operate the solar park.
Solar Energy Initiatives will sell the solar panels and balance of system to the LLC, generating as much as $750 million in revenue within a six-year time period. During the first year of development, the project will generate over $100 million in sales.
Construction of the 300 MW system represents the largest non-utility-owned solar park to be created, says Solar Energy Initiatives. Preliminary work, including zoning, permitting, EPA approvals and other activities, will begin immediately, with construction set to begin in the next 18 months.
SOURCE: Solar Energy Initiatives