Project made possible under flexible terms of BEA’s new agreement with TVA
BOLIVAR, Tenn., November 9, 2020 – Bolivar Energy Authority (BEA) has signed a contract with Silicon Ranch Corporation for a new solar project in Hardeman County. Once completed in 2022, the 3.45-megawatt (MWAC) facility will provide enough low-cost solar energy to power more than 500 homes.
Earlier this year, the Tennessee Valley Authority (TVA) announced that for the first time in its 87-year history, it has begun offering local power companies (LPCs) the flexibility to meet a portion of their power needs through their own generating sources. BEA is one of the first LPCs in the Valley to execute a deal under these new terms, selecting Nashville-based Silicon Ranch as its partner for the solar project.
“As a public power utility, BEA cares about the well-being of our community, and this solar project is a win for our customers and our region,” said Tony Kirk, BEA President and CEO. “We look forward to working with Silicon Ranch—a Tennessee company and a national leader in solar energy—to help maintain and keep rates as low as possible for our customers and bring the benefits of this project to Hardeman County. On behalf of our team and our Board of Directors, I want to thank TVA for making generation flexibility available to us.”
TVA is a national leader in carbon rate reductions. Over the next ten years, TVA is implementing a plan to reduce carbon emissions by 70% from 2005 levels.
“TVA is building the energy system of the future, and we applaud BEA for leveraging the flexibility option to grow renewables in the Valley,” said Doug Perry, TVA Senior Vice President of Commercial Energy Solutions. “TVA is pleased to work with BEA and Silicon Ranch to meet local customer needs with local renewable energy.”
Silicon Ranch pioneered utility-scale solar in the state of Tennessee and remains a market leader, with more than 35 operating facilities across the Tennessee Valley. On behalf of BEA, the company will fund, construct, own, operate and maintain the solar facility and sell the power to BEA through a long-term power purchase agreement.
“Silicon Ranch takes great pride in our Tennessee roots and in our role as a trusted local partner to help TVA and LPCs deliver value to the customers and communities they serve,” said Matt Kisber, Silicon Ranch Co-Founder and Chairman. “We applaud TVA for its vision to provide LPCs with generation flexibility, and we’re honored to work with BEA to deliver low-cost, locally sourced solar power to meet customer needs and recruit new business.”
Bolivar Energy Authority serves Hardeman County and parts of Fayette, Chester and Madison counties in Tennessee, as well as a portion of Benton County, Mississippi. Incorporated in 1936, BEA serves more than 11,000 business and residential customers and maintains approximately 1,400 miles of distribution line.
Silicon Ranch is the U.S. solar platform for Shell and one of the largest independent producers of solar power in the country. Silicon Ranch owns and operates each project it develops, a distinction that means the company is deeply committed to the partners and communities it serves. Its operating portfolio includes more than 135 solar facilities across 14 states from New York to California, including the first utility-scale projects in Tennessee, Mississippi, Georgia, and Arkansas.
Rob Hamilton, Corporate Communications Manager, Silicon Ranch