In what promises to be a Texas-sized win for San Antonio, utility company CPS Energy and solar industry company OCI Solar Power have signed a deal for a 400-MW solar power project. It is the largest solar deal yet in the nation among municipal utilities, and will catapult Texas into the top five U.S. solar producing states.
It also means a massive $1 billion construction investment, along with a $100 million high-tech U.S. manufacturing facility in south San Antonio to be set up by Nexolon America, the American subsidiary of South Korean company Nexolon.
The project will create more than 800 professional and technical jobs with an annual payroll of nearly $40 million. Around 75 percent of those jobs will be in the renewable energy sector, which means creation of more green jobs.
The total annual economic impact of the project for Greater San Antonio is forecasted to be in the $700 million range, including a new corporate headquarters to be set up in San Antonio.
As for the power consumption, the electricity produced will fulfill the needs of nearly 70,000 local households – or about 10 percent of San Antonio’s customers.
“CPS Energy’s pursuit of clean energy and energy efficiency has attracted seven clean technology companies and a commitment, thus far, of a million dollars to local education,” said San Antonio Mayor Castro. “Those are the kinds of partnerships we welcome as we focus on our city’s current and future needs.”
CPS Energy has signed a 25-year power purchase contract with OCI Solar Power. According to the contract, members of the OCI Solar Power consortium, including Nexolon America, will build facilities in San Antonio, Texas to produce components for solar power generation such as modules, trackers and inverters used to supply the North American market.
“Nexolon is looking forward to becoming a leader in solar power manufacturing in the U.S.and we’re excited that our expansion into North America is taking place in one of the most historic cities in America. We expect to contribute greatly to San Antonio’s New Energy Economy,” said Nexolon Board Chair and Chief Strategy Officer Woo-Jeong Lee.