Ashtrom Renewable Energy announced the Tierra Bonita solar project is officially operational, marking a significant milestone for Ashtrom Group’s renewable energy operations. The project obtained the required approvals for commercial operation, earlier than the contracted date.
The Tierra Bonita Project is a solar project in Texas, covering around 2,200 acres with a 306-MWAC capacity.
“We are thrilled to announce the early commencement of commercial operations for the Tierra Bonita solar project, a key milestone for Ashtrom Renewable Energy,” said Yitsik Mermelstein, CEO of Ashtrom Renewable Energy. “This achievement not only underscores our ability to deliver utility-scale renewable energy projects, but also reflects our commitment to sustainable growth within just three years of establishing the company. Through innovative agreements like the sale and transfer of production tax credits under the Inflation Reduction Act, we are further maximizing the project’s financial and environmental impact.”
Ashtrom Renewable Energy has secured the sale of 60% of the generated electricity (180 MWAC) through a 20-year PPA with utility CPS Energy. The remaining electricity generated by the project will be sold by Ashtrom Renewable Energy on the free market. In addition, Ashtrom Renewable Energy signed an agreement for the transfer and sale of project tax credits through the IRA’s tax credit transfer provision.
News item from Ashtrom Renewable Energy