Renewable

May 18 (Renewables Now) - Spanish utility Naturgy Energy Group SA (BME:NTGY) announced today that it has launched construction of a 300-MWp solar photovoltaic (PV) farm in Texas, its first project in the US.

The company will invest EUR 264 million (USD 278.3m) in the 7V Solar Ranch project to turn it in the largest PV plant in its global portfolio.

The solar farm will stretch on land in Fayette County, eastern Texas, where Naturgy's team will put up some 555,600 PV modules.

Commercial operation is scheduled to happen by end-2023.

Naturgy estimates that once up and running, the solar facility will be able to generate around 560 GWh per year.

The 7V Solar Ranch project is the first to come out of the solar and storage pipeline that Naturgy acquired last year when it took over platform Hamel Renewables LLC.

The Spanish utility plans to invest over EUR 1 billion in the US, targeting an operational capacity of 500 MW in 2023 and 1,200 MW in 2025.

(EUR 1.0 = USD 1.054)

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