Crossett Solar Park enters operation
Cubico Sustainable Investments, a privately-owned renewable energy company, has announced the commencement of operations at Crossett Solar Park, a 132 MW solar PV facility located in Ashley County, Arkansas, US.
The project is the second solar PV plant to be brought into operation by Cubico in the past 12 months and takes the total capacity of Cubico’s operational portfolio in the US to over 800 MW, alongside a further 2 GW of greenfield development pipeline.
Crossett has completed a long-term power purchase agreement (PPA) with Google, which will supply electricity to support its operations in the Midwestern US. New and existing data centres brought online or expanded to support growth in the technology sector will require several GW of additional power generation capacity over the next few years, creating substantial growth opportunities for renewable energy developers.
This agreement was facilitated through LevelTen Energy’s Accelerated Process (LEAP™), which was co-developed by Google and LevelTen Energy to make sourcing and executing clean energy PPAs more efficient, and contributes to Google’s ambitious 2030 goal to run on 24/7 carbon-free energy (CFE) on every grid where it operates.
In June 2024, the tax equity financing for Crossett Solar Park was successfully closed with Greenprint Capital, acting as the tax equity partner. The solar farm, one of the largest utility scale projects in the state of Arkansas, commenced commercial operations in September 2024. Following the completion of the Delta’s Edge solar farm in Mississippi, which entered operations in December 2023, Crossett becomes Cubico’s second operational project connected to the midcontinent independent system operator (MISO), one of the largest regional transmission networks in the US and an important growth market for the business.
Cubico’s expansion into emerging renewable markets like Arkansas highlights the exciting potential for growth across the US. With Arkansas generating 1200 GWh of solar power in 2023, the state is primed to accelerate its renewable energy transition. By establishing a strong foundation in these regions, Cubico is well-positioned to drive meaningful progress toward a cleaner, more sustainable energy future nationwide.
Stacey Kusters, Country Head, USA, commented: “With the successful launch of Crossett Solar Park, our team continues to demonstrate its capability in delivering high-quality renewable energy projects while actively developing a strong greenfield pipeline.
“We are delighted to partner with Google to provide their data centre campuses in the Midwest with carbon-free energy from one of our assets. This Power Purchase Agreement highlights the crucial role of clean energy projects in sustainably powering data centres as the demand from AI and machine learning grows across America and beyond.”
“This partnership with Cubico will bring new carbon-free energy online from its Crossett solar facility in Arkansas to support our operations in the Midwest – helping power our data centres that provide digital tools and services around the world,” said Amanda Peterson Corio, Global Head of Data Centre Energy, Google. “This agreement is another strong example of how our scalable procurement approach is transforming the way the industry buys and sells clean energy, which is accelerating the development of carbon-free electricity and the jobs that come with that.”
Peter DeFazio, Managing Director of Greenprint Capital, added: “We are thrilled to have partnered with Cubico on the Crossett Solar Park. The expertise and dedication of the Cubico team were instrumental in bringing this pioneering renewable energy project to fruition. The Inflation Reduction Act has enabled us to form innovative tax equity partnerships like this one, facilitating the monetisation of tax credits through their sale to corporate taxpayers. Together, we’ve unlocked new financing mechanisms that support the growth of renewable energy projects nationwide.”
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