The 200MW Corazon Solar Project in Webb County has secured funding for construction which is set to begin soon. The North American Development Bank (NADB) has granted the developer, BayWa r.e. Solar Projects, LLC, a US$62.9 million loan to finance the design, construction, and operation of the Corazon Solar project. The solar plant will be constructed on nearly 2,000 acres of private land in Webb Count. BayWa has so far received US$216.1 million in credit from three other lenders other than NADB for development.
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Jam Attari, CEO of BayWa r.e. Solar Projects, LLC stated that the project will generate an estimated 537.30 gigawatt-hours (GWh) of electricity during the first year of operation, equivalent to the annual consumption of 38,074 households, and reduce approximately 258,338 metric tons/year of carbon dioxide (CO2), 195 metric tons/year of nitrogen oxides (NOx) and 219 metric tons/year of sulfur dioxide (SO2). “We’re pleased to have secured financing from like-minded partners committed to the growth of a more resilient and clean energy future. Texas continues to be a strong partner for renewable energy growth, and this milestone represents a win for our climate and the economy, creating more opportunities for the local community and the generations to come. At BayWa r.e., we continue to move forward in our promise to drive the energy transition today for a better tomorrow,” Attari added
In addition to the environmental and health benefits, the project is expected to benefit the communities in and around Webb County through the creation of approximately 400 jobs during construction and four on-site jobs during operation. Construction is expected to be completed by the summer of 2021. U.S. Sen. John Cornyn, U.S. Rep. Henry Cuellar, and Webb County Judge Tano Tijerina provided remarks and witnessed the signing of the loan agreement. Both Cornyn and Cuellar helped secure increase capital for NADB under the terms of the new United States-Mexico-Canada Agreement.
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