- EUR 264 million of investment is required.
- Plant to begin operations by 2023, yielding 560GWh of electricity annually.
Naturgy Energy Group and Candela Renewables, an independent solar developer, founded by former First Solar Inc executives, have commenced construction activities for a 240MW solar park in Texas.
According to Candela, the initiative will be the first to enter the US as part of an existing partnership. Following announcements made at the beginning of 2021, Naturgy and Candela will jointly work on a pipeline of 3.2GW of solar and 2GW of co-located battery energy storage projects that were acquired through the purchase of solar and storage platform Hamel Renewables LLC.
The 7V Solar Ranch photovoltaic (PV) park, with a direct current (DC) capacity of 300MW, will be installed across an 800-hectare site in Texas Fayette County. The park will supply electricity to the ERCOT market. EUR 264 million is the estimated about of investment required.
The project will be Naturgy’s largest solar park globally and its first renewable energy scheme in the US. The solar plant will begin operations before the end of 2023 with an expected power yield of 560GWh of electricity every year.