Major U.S. solar company invests in Houston renewable energy project; more solar planned in Alaska

One of nation’s largest solar power developers has invested in the planned 8.5 megawatt (MV) solar project at Houston.

CleanCapital, cited by Wood MacKenzie, a major consulting firm, as one of the 10 largest privately-owned solar companies, is investing in Renenewable IPP, an Alaskan firm. CleanCapital is based in Houston, Texas.

The announcement was made August 16. Under terms of the deal CleanCapital will take over operation and ownership of the project, which will sell renewable power to Matanuska Electric Association.

Enough solar power will be generated to power 1,400 homes per year, according to CleanCapital’s announcement. It will be Alaska’s largest solar project to date.

Solar power can diversify MEA’s sources of energy and will not raise costs. It will also help stabilize power costs in the Matanuska-Susitna Borough.

Prices for natural gas, which fuels most power generation in the region, are now among the highest in the nation. In the Lower 48 states solar is some of the lowest-cost energy around.

Renenewable IPP has been working on the Houston project for some time and previously developed a smaller 1 megawatt solar project near Willow, which is now operating.

Construction will begin this month on the larger facility at Houston with completion planned for next summer, CleanCapital said in its announcement.

An estimated 30 to 40 workers will be employed in construction as well as 15 to 20 part-time operations jobs once the construction is complete.

Tony Izzo, MEA’s chief executive officer, said the cooperative’s expanision of renewable energy in its portfolio is in line with wishes of its members.

“Surveys indicate people want MEA to produce more power with renewable energy, but not at an additional cost. We believe this project achieves that goal while helping MES responsibly meet the board’s carbon reduction targets,” Izzo said in a statement.

Julia Bell, chief commercial officer at CleanCapital, said her company is actively seeking to expand in regions of the nation that are underserved,” with solar power. The goal is to bring cost-competitive and emissions-free power to these communities.”

Jenn Miller, Renewable IPP’s CEO, said the company’s Alaska projects show that solar can be competitive in Alaska, even with its low-sunlight periods in winter.

She asked: “Proving that solar works in the last frontier begs the question, can’t it work anywhere?”

CleanCapital hopes to launch a number of solar projects in Alaska. One already in advanced planning is a 20 megawatt project on the Kenai Peninsula.

This is still in the technical and financial feasibility stage, Miller said, but it could be under construction in 2024 or 2025.