Renewable IPP has announced an 8.5-MW solar project that will supply renewable energy to Alaska utility Matanuska Electric Association (MEA). It will be the largest solar asset in the state.
Construction on the Houston, Alaska, site commences in August 2022 with an anticipated completion date of summer 2023. The project will create 30 to 40 construction jobs and 15 to 20 part-time maintenance jobs. When fully operational, the solar array will power approximately 1,400 homes per year, helping to stabilize energy prices and diversify energy generation in Alaska. The Matanuska-Susitna Borough, where the project is located, was a key supporter.
CleanCapital will provide financing for project construction and serve as the long-term owner-operator of the site. In addition to construction financing, CleanCapital’s investment will fund Renewable IPP’s operations to accelerate the development of its future pipeline in Alaska.
The two companies began working together in 2020 when they were connected by LaunchAlaska, a local nonprofit that works to accelerate Alaska’s clean energy economy. Since then, Renewable IPP has shepherded the project and its various stakeholders — MEA, Matanuska-Susitna Borough, the city of Houston, and the local community to bring this landmark project to fruition.
“This is a ‘dream come true’ moment for our company, which centers around partnering with a capable and collaborative team. Thanks to CleanCapital, we are expanding the envelope of solar deployment worldwide. Proving solar works in the last frontier begs the question, can’t it work anywhere?” said Jenn Miller, CEO of Renewable IPP.
News item from CleanCapital
