Renewable IPP has announced an 8.5-MW solar project that will supply renewable energy to Alaska utility Matanuska Electric Association (MEA). It will be the largest solar asset in the state.
Construction on the Houston, Alaska, site commences in August 2022 with an anticipated completion date of summer 2023. The project will create 30 to 40 construction jobs and 15 to 20 part-time maintenance jobs. When fully operational, the solar array will power approximately 1,400 homes per year, helping to stabilize energy prices and diversify energy generation in Alaska. The Matanuska-Susitna Borough, where the project is located, was a key supporter.
CleanCapital will provide financing for project construction and serve as the long-term owner-operator of the site. In addition to construction financing, CleanCapital’s investment will fund Renewable IPP’s operations to accelerate the development of its future pipeline in Alaska.
The two companies began working together in 2020 when they were connected by LaunchAlaska, a local nonprofit that works to accelerate Alaska’s clean energy economy. Since then, Renewable IPP has shepherded the project and its various stakeholders — MEA, Matanuska-Susitna Borough, the city of Houston, and the local community to bring this landmark project to fruition.
“This is a ‘dream come true’ moment for our company, which centers around partnering with a capable and collaborative team. Thanks to CleanCapital, we are expanding the envelope of solar deployment worldwide. Proving solar works in the last frontier begs the question, can’t it work anywhere?” said Jenn Miller, CEO of Renewable IPP.
News item from CleanCapital
Now hang on there, (I’ve) been told you can’t use solar PV in Alaska, it’s too far north. Yet here is a 8.5MW project going in. Apparently Renewable IPP didn’t get this memo. Folks seem to be disconnecting from actual physics and economic realities of overall energy costs. So, a small town in Alaska is using diesel generators to supply the town with energy 24/7. The town could be lucky and have a natural gas turbine with additional heat exchange that is more efficient to supply power to the town. But fuel costs are a commodity cost and may be cheap one month and (very) expensive the next month. Even with a few average sun hours a day and energy storage one can avoid using the fueled generation 24/7 and save the community several tens of thousands or even hundreds of thousands of fuel costs each year. In specific areas like Alaska, adding wind turbines and energy storage to the grid can offset fueled energy costs even more during the year.