Aggreko Energy Transition Solutions To Develop 13 MW Solar Project in Texas

Aggreko Energy Transition Solutions To Develop Texas Solar Project. Photo: Pexels

Aggreko, a US-based energy solutions company, announced that the company’s Energy Transition Solutions (“Aggreko ETS”) division has acquired a 13 MW behind-the-meter solar power project site in Texas.

Aggreko ETS will oversee the construction, own, and operate the clean energy project in support of a Texas energy producer’s drive to decarbonise operations. Once complete, the system will provide the customer with predictable cost savings and greenhouse gas emissions reductions under a long-term fixed-price power purchase agreement.

“We’re pleased to complete this transaction and add it to our growing portfolio of solar and storage projects under development in Texas that total over 600 MW,” said Jerry Polacek, Aggreko ETS President.

“This acquisition by Aggreko ETS reflects the organisation’s deep industry network and proven credibility as domain experts known for reliable execution, strong experience, and an established presence in the rapidly growing market,” read the press release by the company.

Prashanth Prakash, Aggreko ETS Chief Commercial Officer, added, “Texas is an attractive market for these types of C&I projects, thanks to its robust solar resource, ease of development, and an efficient ERCOT grid connection process for projects of this size. This project serves as another example of how we help commercial and industrial customers meet their decarbonization goals”.

Recently, another Texas-based solar project by Vesper Energy, a developer, owner, and operator of utility-scale renewable energy assets, got the much-needed financing. The asset will deliver renewable energy to communities throughout Texas, provide grid stability, and mitigate price volatility in the Electric Reliability Council of Texas (ERCOT) which provides power to the grid in the state. Helping Vesper make it possible are $500 million worth of production tax credits over 10 years, a federal incentive that reduces the cost of renewable projects. Vesper secured a $590 million debt financing package for the Hornet Solar project, consisting of a construction-to-term loan and letter of credit facility