As part of its sustainable energy initiative, Bank OZK broke ground Thursday on its Arkansas-based 4.8-MW solar power plant. Once complete, the array will produce enough electricity to power the bank’s new corporate headquarters in Little Rock and up to 40 Bank OZK locations throughout the state.
Scenic Hill Solar, of North Little Rock, Arkansas, will oversee construction of the 11,000-panel, single-axis tracking array. The facility is expected to generate more than 8.1 million kWh annually. Located in Stuttgart, Arkansas, it will be the state’s third-largest commercial solar facility dedicated to a private sector customer and is the largest renewable energy investment by a financial services company in the state of Arkansas.
“An industry innovator, Bank OZK has a bold vision for the future, which includes a strong commitment to sustainable and clean energy,” said Tim Hicks, chief credit and administrative officer at Bank OZK. “This solar power plant will allow us to reduce our carbon footprint by 160,000 tons over the next 30 years.”
The Arkansas Public Service Commission and Federal Deposit Insurance Corporation approved the Bank’s plans for the solar power plant in March 2021.
News item from Bank OZK