Ashtrom Renewable Energy on Oct. 8 announced the Tierra Bonita solar project in Texas is officially operational.
The project obtained the required approvals for commercial operation, earlier than the contracted date.
Ashtrom Renewable Energy has secured the sale of 60% of the generated electricity (180 MW ac) by signing a 20-year power purchase agreement with San Antonio, Texas-based public power utility CPS Energy.
In addition, Ashtrom Renewable Energy signed a first-of-its-kind agreement under Inflation Reduction Act for the transfer and sale of project tax credits to a Moody’s Aa3 rated American institutional entity in consideration of $300 million over a period of 10 years.
The Tierra Bonita Project is a solar project in Pecos County, in west Texas, covering around 2,200 acres with a 306 MWac capacity.