SNYDER, TX — Construction has started on the 140-megawatt DC Iron Spur Solar project, a utility-scale solar development in Snyder, officials announced.
Levona Renewables is developing the project with financial backing from Energea, a renewable energy developer, operator and investor. The facility will use single-axis trackers and is expected to generate about 317 gigawatt-hours of electricity annually once operational.
The project is supported by a 35-year land lease. Rather than acquiring the site outright, Energea is providing development capital through a secured, convertible loan to the project’s special purpose entity, CT Solar One.
Iron Spur has secured site control, interconnection rights and power purchase agreement applications. The project also has an exclusivity agreement with an investment-grade buyer for a long-term power purchase agreement.
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