Leeward Renewable Energy has initiated commercial activities at the 200MW Horizon solar PV project in Texas.
The recently finished project will provide electricity to Verizon Communications under a power purchase agreement (PPA) established in 2022. This initiative, which wrapped up construction this week, marks another collaboration between the two companies. Previously, they entered into a virtual power purchase agreement (VPPA) for a project in North Carolina, which Leeward launched in August 2023.
In March 2023, Leeward secured financing for the Horizon project through two agreements totaling US$180 million. This included US$75 million in green loan construction financing from MUFG and a US$105 million tax equity commitment from Wells Fargo.
The company announced that the project will integrate agrivoltaics practices, such as using grazing sheep for vegetation management and biodiversity enhancement. This approach, as stated by the company, not only boosts land productivity and offers farmers additional income but also supports the shift towards clean energy.
In April 2022, Leeward Renewables entered into a multi-year supply agreement with First Solar, a US manufacturer specializing in Cadmium Telluride (CdTe) thin film solar technology. The agreement, covering 1GW, entails First Solar providing solar panels for Leeward’s US solar project pipeline throughout 2023 and 2024.
Apart from its home base in Texas, Leeward secured $580 million in funding in November for various photovoltaic (PV) projects. Among these projects is a 179MW undertaking in Arizona known as the White Wing project, anticipated to commence operations in the latter half of this year.
