Green & Clean Power LLC (GCP) has secured $300 million in financing to develop a solar energy and battery storage facility on 500 acres in Osceola. The project, expected to be completed by fall 2025, will supply renewable power to its sister company, Hybar LLC, a nearby scrap metal recycling steel rebar mill set to open the same year.
KfW IPEX-Bank provided $165 million in construction financing, with $100 million in additional support from the Arkansas Teacher Retirement System (ATRS). DEPCOM Power Inc. will handle the engineering and construction of the solar and battery components.
GCP will supply Hybar with 40% of its annual energy needs through on-site, solar-generated power. This renewable energy source positions Hybar as one of the world’s lowest emitters of carbon in steel production.
This benefits our state, our environment, and most of all, it will benefit our members,” said ATRS Executive Director Mark White.
GCP also plans to apply for grid interconnection through MISO to sell excess power to third-party customers.
“Access to renewable energy was a major component of Hybar’s mission,” said Ari Levy, partner at Global Principal Partners and CFO of GCP and Hybar. “To our knowledge, this will be the first renewable power installation in the industry to provide a steelmaking facility with solar-generated electricity on a behind-the-meter basis.”
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