Savion, a Green Investment Group portfolio company, announced that its Brazoria County solar development in Texas, USA, has signed a long-term power purchase agreement for 160 MW of solar energy capacity to Target Corporation.
Brazoria County Solar Project, LLC has entered into a Virtual Power Purchase Agreement (VPPA) with Target Corporation to receive 160 MW capacity of renewable solar power from Golden Buckle Solar Project, located in Brazoria County, Texas.
Construction on Golden Buckle Solar Project is expected to begin in late 2021, with commercial operation targeted to commence by the end of 2022. The utility-scale solar project is projected to include more than 575,000 solar panels with the total output capacity producing 200 MW of clean, renewable solar energy—the equivalent to power approximately 37,100 Texas homes.
“Savion is proud to be working with one of the world’s most trusted retail brands in its efforts to support green energy,” said Diana Scholtes, chief commercial officer for Savion. “In addition, the development of Golden Buckle Solar Project will also benefit the host community of Brazoria County with local economic boosts through jobs and property tax revenue.”
The rapid growth of solar energy generation facilities in Texas is expected to continue over the next several years as solar resource demand increases and development costs decline. According to the Solar Energy Industries Association (SEIA), the growth projection for Texas is estimated at more than 15,000 MW over the next five years. Savion is actively managing a Texas portfolio of more than 1,500 MW of solar and more than 600 MW of energy storage projects currently under development.