Israel-based Arava Power, in collaboration with Israel’s Paz Group and Menora Mivtachim, has launched its first solar project in the US, named SUNRAY, located in Uvalde County, Texas. With a capacity of 270 MW, the project spans 1,200 acres and comprises over 500,000 solar panels. According to Arava Power, SUNRAY will generate 515 GWh annually, powering 43,000 homes in the San Antonio area. The project, the company claims, will reduce carbon emissions by 225,000 metric tons annually. Half of the electricity is sold under a 12-year PPA, while the remainder is sold on Texas’ merchant electricity market. Nomura Securities International provided $215 million in construction financing. Morgan Stanley and another investor contributed $150 million in tax equity.
Arava Power commissiones its first US solar project
Arava Power has partnered with Paz Group and Menora Mivtachim for the 270 MW Texas solar project. (Image Credit: Arava Power)
Actualize Solar has signed five long-term PPAs in 2024, advancing its 1.5 GW solar project portfolio across six US states. (Image Source: Businesswire)
Located in Enna and Catani a, the 242.78 MW solar plant was designed to produce 400 GWh annually, meeting the needs of 154,000 households. (Inage Source: Iberdola)
Scatec has secured EUR 25 million from IFU, alongside equity and non-recourse debt, for its USD 85 million project financing. (Image Source: Scatec ASA)
EliTe Solar launched its 5 GW PV project in Egypt’s TEDA Suez Zone, set to begin production by September 2025. (Image Source: PRNewswire)