Solar industry leaders O3 Energy and UPower Energy have begun moving forward with a 7.5-Megawatt utility-scale solar portfolio in Texas that is being financed by AVANA Capital.
This portfolio of work enables five different 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. O3 and UPower are utilizing the latest in solar technology to ensure the highest power output and level of performance. The 7 solar farms maximize efficiency by using semi-transparent bi-facial panels combined with Archtech Solar Skyline E-W axis trackers. The combination of these allow for up to a 30% increase in electricity production.
Despite the challenges of launching construction during a global pandemic, O3 Energy, UPower and AVANA collaborated to deal with supply chain challenges and uncertainties.
"This is a massive portfolio of work for O3 Energy and UPower," said Brad Stutzman, CEO of O3 Energy. "Not 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."
"This is our 2nd time working with Eric Ma and we are delighted to have supported Upower's solar energy expansion into Texas through the funding of these 7 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," said Walter Cuculic, Senior Vice President and Head of AVANA Capital's Renewable Energy Group.
Source: O3 Energy
Date: Jul 2, 2020