Alabama utility reaches deal for $125M solar project
MONTGOMERY, Ala. (AP) — A Montgomery, Alabama-based electric authority announced that it has completed a deal to develop what it says will be one of the largest solar power arrays in the state.
The Alabama Municipal Electric Authority said Wednesday that Lightsource BP will finance, build and own the $125 million solar facility and deliver energy to AMEA under a 20-year power purchase agreement.
The project will deploy more than 350,000 solar panels over 800 rural acres (323.8 hectares) in rural Montgomery County when it is completed in 2021. It will save customers money and contribute more than $5 million in property tax revenue to county schools, AMEA said.
AMEA is a publicly-owned electric utility that provides power to 11 member municipal utilities across Alabama.
The utility is increasing the percentage of energy it generates from the sun from 1 % to 10 %, Fred Clark, president and chief executive of AMEA, told the Montgomery Advertiser.
The project was initially delayed over concerns about the length of a tax abatement, the newspaper reported.
Information from: Montgomery Advertiser, http://www.montgomeryadvertiser.com