UK-based renewables investor Cubico Sustainable Investments has begun commercial operations at a 132-MW DC solar park in Arkansas, which will provide green electricity to tech giant Google LLC.
Crossett Expands Cubico Capacity, Powers Google’s Carbon-Free Goals
The commissioning of the Crossett solar park marks the second PV plant the London-based renewable energy company has successfully launched in the past year, boosting its operational capacity in the U.S. to over 880 MW with an additional 2 GW in its greenfield development pipeline.
Cubico acquired the Crossett solar park project from UK-based developer Renewable Energy Systems (RES) in late 2022, along with another PV project in Mississippi. At the time, Cubico noted that both projects have long-term busbar power purchase agreements with regional cooperative utilities.
“With the successful launch of Crossett Solar Park, our team continues to demonstrate its capability in delivering high-quality renewable energy projects while actively developing a strong greenfield pipeline. We are delighted to partner with Google to provide its data centre campuses in the Midwest with carbon-free energy from one of our assets. This Power Purchase Agreement highlights the crucial role of clean energy projects in sustainably powering data centres as the demand from AI and machine learning grows across America and beyond.” said Stacey Kusters, Country head USA.
Crossett Solar Park Secures Long-Term PPA with Google
The Crossett solar park will operate under a long-term power purchase agreement (PPA) with Google, supplying electricity to power the company’s data center facilities in the Midwest. This agreement supports Google’s goal of achieving 24/7 carbon-free energy across all its operating grids by 2030. The agreement was made possible through LEAP (LevelTen Energy’s Accelerated Process), a system co-developed by Google and LevelTen Energy to streamline the sourcing and execution of clean energy PPAs.
New and expanded data centers that support growth in the technology sector will need several gigawatts of additional power generation capacity in the coming years, presenting significant growth opportunities for renewable energy developers.
“This partnership with Cubico will bring new carbon-free energy online from its Crossett solar facility in Arkansas to support our operations in the Midwest – helping power our data centres that provide digital tools and services around the world. This agreement is another strong example of how our scalable procurement approach is transforming the way the industry buys and sells clean energy, which is accelerating the development of carbon-free electricity and the jobs that come with that.” said Amanda, Google ‘s global head of data centre energy.
Crossett Solar Park Secures Financing with Greenprint Capital
The tax equity financing for Crossett Solar Park was successfully secured with Greenprint Capital serving as the tax equity partner. The solar park is one of Arkansas's largest utility-scale projects.
“We are thrilled to have partnered with Cubico on the Crossett Solar Park. The expertise and dedication of the Cubico team were instrumental in bringing this pioneering renewable energy project to fruition. The Inflation Reduction Act has enabled us to form innovative tax equity partnerships like this one, facilitating the monetisation of tax credits through their sale to corporate taxpayers. Together, we’ve unlocked new financing mechanisms that support the growth of renewable energy projects nationwide.” said Peter DeFazio, Greenprint Capital managing director.
Following the successful launch of the Delta’s Edge solar farm in Mississippi which became operational in December 2023, Crossett is now Cubico’s second operational project linked to the Midcontinent Independent System Operator (MISO)—a major regional transmission network in the U.S. and a key growth area for the company.
The developer noted that its expansion into emerging renewable markets like Arkansas showcases the significant growth potential across the country. With Arkansas producing 1,200 gigawatt-hours (GWh) of solar power in 2023, the state is well-positioned to enhance its renewable energy transition. By establishing a robust presence in these regions, Cubico aims to contribute significantly to a cleaner, more sustainable energy future nationwide.