Daily Newsletter

21 August 2023

Daily Newsletter

21 August 2023

Leeward begins operations on 100MW Oak Trail solar plant in US

The 100MW solar plant will support telecom giant Verizon in achieving its sustainability goals.

Surya Akella August 18 2023

Texas-based renewable energy developer Leeward Renewable Energy (LRE) has completed construction and begun commercial operations at its 100MW Oak Trail solar plant at Moyock, Currituck County, in the US state of North Carolina.

LRE secured approval for the construction and operation of the solar facility from Currituck County in late 2020. Construction began in October 2022.

The project is located two miles (3.2km) south of Moyock on 1,159 acres of land along the Puddin Ridge and Cooper Garrett roads.

The company expects the solar plant to operate for more than 30 years, supporting the local community through property tax and by generating clean power.

Blue Ridge Power, a North Carolina-based company, provided the engineering, procurement and construction services for the project. During its construction phase, 300 temporary jobs were created.

Leeward Renewable Energy CEO Jason Allen stated: “Our engagement goes well beyond job creation, economic investment and the generation of clean, renewable energy. We strive to build lasting partnerships with civic leaders, property owners and community members. At Oak Trail Solar, we are committed to doing just that while preserving and protecting the environment.”

The Oak Trail solar project is supported by telecom giant Verizon Communications through a long-term power purchase agreement for all of the generated power.

Verizon global supply chain and sourcing senior vice-president and chief sustainability officer Jim Gowen stated: “The renewable energy produced by Oak Trail Solar furthers Verizon’s commitment to protecting our planet and transitioning to a greener US energy grid.”

ESG 2.0 will be less forgiving of poor ESG performers, especially on environmental issues

While ESG 1.0 was driven by voluntary corporate action, ESG 2.0 is being driven by a new wave of government policies. A host of new environmental laws are in the pipeline, relating to mandatory reporting, carbon pricing, and carbon import tariffs, as well as more state support and investment in clean energy technologies. Companies unprepared for ESG 2.0 face higher costs and lost sales.

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