ATLANTA – Renewvia Energy Corporation announced it will finance the installation of 200 kilowatt solar-power system in Georgia that will be located on a poultry farm.
The project is part of the Tennessee Valley Authority (TVA) Green Power Switch Partners Program, which promotes electricity production from renewable sources. The solar-power system will be built in Calhoun, Ga., on a multigenerational poultry farm under a 10-year site lease, according to Renewvia. Ownership of the system will be conveyed to the poultry farm after 10 years. The TVA will guarantee the purchase of all solar power produced at the farm for 10 years at $.12 per kilowatt hour indexed to the local retail power rate, the company said.
"We are excited to install this exciting PPA project in Georgia," said Eric Domescik, principal of Renewvia Energy. "Last year, we developed several large commercial solar-power systems and this latest project is another example of our strong momentum in the renewable energy market. This project also illustrates Renewvia Energy's ability to finance projects with multiple forms of tax benefits."
The system is expected to produce all of the poultry farm's operational power requirements over the life of the system, Renewvia said. The solar-power plant is expected to reduce greenhouse gas emissions 89 tons annually and 527 tons over a 25-year period, according to the company. It is the equivalent of planting more than 17 acres of pine trees.