Avantus and Toyota Tsusho America (TAI) have commenced the construction of the 159 gigawatts direct current (MWdc)/125 megawatts alternating current Norton solar project in Runnels County, Texas, US.
The construction follows the sale of the Norton project by Avantus to TAI in November 2023.
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TAI, a wholly-owned subsidiary of Toyota Tsusho Corporation, has also secured construction and term financing from the Mitsubishi UFJ Financial Group.
Toyota Tsusho America president and CEO Naoyuki Hata said: “Addressing the pressing issue of climate change is a top priority for our company and we are committed to finding innovative and effective solutions.
“By leveraging our expertise and collaborating with our customers – who are making progress toward sustainability goals – this solar project is an opportunity to create a positive impact on local communities, as well as pave the way toward a sustainable future on a global scale.”
The Norton solar project will be managed by Avantus, with RES providing engineering, procurement, and construction services.
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By GlobalDataThe project has also secured a long-term power purchase agreement with a corporate customer, re-inforcing Avantus’ role in supporting multinational companies in achieving their clean energy and sustainability objectives.
The project is anticipated to create 250 jobs at its peak construction phase and deliver direct economic benefits to Runnels County and the surrounding community for its entire operational duration.
It is estimated to offset more than 230,000 metric tonnes of carbon emissions annually, equivalent to the removal of more than 50,000 gas-powered vehicles from the roads each year.
The initiative marks Avantus’ seventh project in Texas, contributing to 2GWdc of clean energy developed in the state by the company.
Avantus has one of the largest solar and energy storage project pipelines in the US, with more than 80 projects under development.
This pipeline exceeds 46GW of system capacity, encompassing 30GW of solar and 94 gigawatt hours of energy storage, sufficient to power more than 20 million people in the southwestern US.
Avantus CFO Patrick Goff stated: “Texas is energy country, and that includes massive opportunities in solar.
“The Norton solar project represents the best of what we do at Avantus – develop high-quality clean energy projects that are good for our customers, for the local economy, and for the planet.
“This project was six years in the making, and I am proud of our team’s persistence in getting Norton shovel-ready and for securing the project’s successful sale to Toyota Tsusho America, Inc to help meet their sustainability goals.”
In March 2024, US private equity firm KKR reached an agreement to purchase a controlling interest in Avantus.
