Construction has begun on Iron Spur Solar, a 140-MWDC utility-scale solar projet in Snyder, Texas. Iron Spur is being developed by utility-scale solar company Levona Renewables, with financial backing from Energea, a renewable energy developer, operator and investor.
Iron Spur Solar’s project site. Credit: Energea
The Iron Spur project will use single-axis trackers and is expected to generate approximately 317 GWh of electricity annually once operational, supported by a 35-year land lease. Rather than acquiring the project outright, Energea is providing development capital through a secured, convertible loan to the project’s special purpose entity, CT Solar One.
Iron Spur has secured site control, interconnection applications and an exclusivity agreement with an investment grade buyer for a long-term power purchase agreement.
News item from Energea
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