2016 Renewable Energy Project that Best Demonstrates Financial Innovation

Winner

Aerojet Rocketdyne Solar Farm

Developer: Silicon Ranch Corporation
Owner: Silicon Ranch Corporation
Location: East Camden, Ark.

The Renewable Energy Power Award for Financial Innovation goes to Silicon Ranch Corporation for the Aerojet Rocketdyne Solar Farm development. In an effort to increase the sustainability score for its Camden, Ark., location, Aerojet Rocketdyne partnered with Silicon Ranch. The facility, which opened in December 2015, is the largest operating utility-scale solar project in Arkansas. Silicon Ranch secured Arkansas state new markets tax credits (NMTCs), federal NMTCs and federal renewable energy investment tax credits (ITCs) to finance the development. According to Foley & Lardner LLP partner John Eliason, a judge for the Renewable Energy Power Awards, the Aerojet Rocketdyne Solar Farm “made a positive financial impact on the community and should serve as a strong statement for solar investment in Arkansas.”

Aerojet Rocketdyne Solar Farm

Silicon Ranch partnered with Ouachita Electric Cooperative Corporation (OECC) and Arkansas Electric Cooperative Cooperation (AECC) to develop a solution that allowed Aerojet Rocketdyne to absorb its required energy during solar production hours. AECC then purchased any excess energy produced. This enabled Aeroject Rocketdyne to meet its internal sustainability goals, while helping AECC achieve its carbon reduction goals. Anastasia Istratova of SunPower Corporation, another judge for the Renewable Energy Power Awards, notes that these innovative financial structures will “[open] new markets and [expand] the industry” for sustainable projects.

Congratulations to Silicon Ranch for its financial innovation with the Aerojet Rocketdyne Solar Farm and its commitment to bringing new technology, more job opportunities and new businesses to south Arkansas.

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