Solar panels in California. Author: Walmart Corp. License: Creative Commons. Attribution 2.0 Generic
The Public Service Commission (PSC) of the US state of Alabama last week approved a 72-MW solar project for local utility Alabama Power that would benefit retail giant Wal-Mart Stores Inc (NYSE:WMT).
A subsidiary of Miami-based Origis Energy will build the USD-140-million (EUR 125m) solar park for Alabama Power, which will buy all the power and environmental attributes generated by the plant under a long-term contract.
The utility will sell the majority of the associated renewable energy credits (RECs) to Walmart under a separate deal. The rest of the RECs will be marketed to other interested parties.
The facility, to be constructed near the town of LaFayette in Chambers County, is expected to enter service by the end of next year.