This portfolio gives five Texas rural electrical co-ops the ability to offer renewable energy via solar power to thousands of residential and commercial customers throughout Central and West Texas. The seven solar farms comprising the portfolio will use semi-transparent bifacial panels combined with Archtech Solar Skyline E-W axis trackers. The combination of these allow for up to a 30% increase in electricity production.
â€śThis is a massive portfolio of work for O3 Energy and UPower,â€ť said Brad Stutzman, CEO of O3 Energy. â€śNot only will thousands of customers now have access to renewable energy, but we will be creating dozens of new jobs to build these solar power plants.â€ť
Despite the challenges of launching construction during a global pandemic, O3 Energy, UPower and AVANA collaborated to deal with supply chain challenges and uncertainties.
â€śThis is our second time working with Eric Ma and we are delighted to have supported Upowerâ€™s solar energy expansion into Texas through the funding of these seven solar PV plants. AVANA Capital is dedicated to furthering clean energy and specifically the rural electric utility market and we look forward to continuing our partnership with Upower for many years to come,â€ť said Walter Cuculic, Senior Vice President and Head of AVANA Capitalâ€™s Renewable Energy Group.
News item from O3 Energy