Construction has broken ground on the 4.8 MW Bank OZK solar plant in Stuttgart, Arkansas. The US$6 million solar plant is being constructed by Bank OZK to help reduce the bank’s carbon footprint by 160,000 tons over the next 30 years. It will consist of 11,000-panel, single-axis array and will generate more than 8.1 million kilowatt-hours annually. Once completed, the Scenic Hill Solar will produce enough electricity to power the Bank OZK’s new corporate headquarters in Little Rock and up to 40 Bank OZK locations throughout the state. The Federal Deposit Insurance Corporation and Arkansas Public Service Commission (APSC) approved the Bank’s plans for the solar power plant in March 2021.
“An industry innovator, Bank OZK has a bold vision for the future, which includes a strong commitment to sustainable and clean energy. This is the largest investment in renewable energy by an Arkansas-based financial services company. We are pleased to play a leading role in investing in sustainable and clean energy, which will provide stable electrical power at a predictable price well into the foreseeable future.” said the Chief Credit and Administrative Officer at Bank OZK, Tim Hicks. “The solar plant reflects our strong commitment to environmental responsibility. We expect to reduce our carbon footprint by about 160,000 tons of carbon dioxide over the next 30 years.” Hicks added.
The solar facility will be the state’s third-largest commercial solar facility dedicated to a private sector customer and is the largest renewable energy investment by a financial services company in the state of Arkansas. Bank OZK is a regional bank providing innovative financial solutions and was established in 1903. Bank OZK conducts banking operations through more than 250 offices in eight states including Arkansas, Georgia, Florida, North Carolina, Texas, New York, California, and Mississippi, and had US$27.16 billion in total assets as of December 31, 2020.