Crossroads Agriculture, a subsidiary of Soloviev Group, has announced plans to construct two solar projects with a combined capacity of more than 1 GW in Colorado, US. No financial details were disclosed. The projects have the capacity to power nearly 250,000 US households. Crossroads collaborated with a subsidiary of NextEra Energy Resources to construct the solar projects.
Through the partnership, Crossroads aims to develop the projects on more than 7,500 acres of farmland in the Eastern Plains of Colorado, close to Haswell and Cheyenne Wells. Reportedly, the Eastern Plains region of Colorado may accommodate solar installations due to an abundance of sunlight. According to the company, solar power projects can last up to 30 years, allowing the agriculture and groundwater aquifer below to regenerate.
Earlier this month, Masdar concluded the purchase of a 50 per cent interest in EDF Renewables North America’s solar and battery storage project. Located in California, the Big Beau project includes a 128 MW alternating current photovoltaic solar plant and a 40 MW/160 MWh battery energy storage system (BESS). The solar and BESS facility is one of eight projects with a 1.6 GW capacity that the duo agreed to jointly develop.
REGlobal’s Views: The solar power from these projects will be notably cheaper than from the coal-fired power plants. With solar power project costs reducing across the world and the US Inflation Reduction Act providing various financial benefits, more solar projects are expected to come up in the country.