Ashtrom Renewable Energy has announced that the Tierra Bonita solar project is officially operational, marking a major milestone for Ashtrom Group’s renewable energy business. The project received the required approvals for commercial operation before the contract date.
The Tierra Bonita Project is a solar energy project in Pecos County, west Texas, covering approximately 2,200 hectares with a capacity of 306 MWAC capacity.
“We are pleased to announce the early start of commercial operations for the Tierra Bonita solar project, an important milestone for Ashtrom Renewable Energy,” said Yitsik Mermelstein, CEO of Ashtrom Renewable Energy. “This achievement not only underlines our ability to deliver utility-scale renewable energy projects, but also reflects our commitment to sustainable growth within just three years of the company’s founding. Through innovative agreements such as the sale and transfer of production tax credits under the Inflation Reduction Act, we are further maximizing the financial and environmental impact of the project.”
Ashtrom Renewable Energy has secured the sale of 60% of the electricity generated (180 MW)AC) through a 20-year PPA with utility CPS Energy. The remaining electricity generated by the project will be sold on the open market by Ashtrom Renewable Energy. In addition, Ashtrom Renewable Energy signed an agreement for the transfer and sale of project tax credits through the IRA’s tax credit transfer facility.
News item from Ashtrom Renewable Energy
