Construction completed for 200 MW Solar Project in USA

Leeward Renewable Energy (LRE) announced that it has completed construction and commenced operation of its 200 MW Horizon Solar Project near Pearsall in Frio County, Texas, USA. The project will provide renewable energy to Verizon Communications Inc. (Verizon) under a previously announced Renewable Energy Purchase Agreement (REPA).

In March 2023, LRE had closed approximately US$75 million in construction-to-term financing and an approximately US$105 million tax equity commitment from MUFG Bank and Wells Fargo respectively for the solar project. 

Throughout the operational lifespan of Horizon Solar, greenhouse gas emissions avoided are estimated to be equivalent to powering 1.2 million Texan households. The project will provide numerous benefits to the local community, including approximately US$30 million in tax payments that will directly support the local County and schools. During construction, the project created approximately 400 jobs.