Farmers Electric Cooperative Corporation is partnering with Today’s Power Inc. (TPI) to construct a 1-megawatt solar facility in Newport. The project is designed to provide renewable energy and savings for the cooperative’s members over the next 25 to 35 years.
The solar facility is set on 8 to 10 acres and features a single-axis tracking technology with 3,876 panels. It will be located east of Highway 67 near Newport. It is set to be operational by June 2019.
According to a TPI press release, the solar facility should provide $80,000 in savings annually. These savings will be passed onto Farmers Electric members. In addition, the facility is designed to be sustainable for 25 to 35 years.
Farmers Electric Cooperative CEO Larry Bright and the company’s board of directors collaborated with TPI to develop a partnership and bring the facility to the cooperative’s region.
“We believe that this type of projects brings hope. Solar energy the capacity to empower institutions and communities in very positive ways,” Bright says. “Arkansas is in one of the sunniest states in the country to harvest solar energy and needs to be leveraged. We are grateful for all the hard work Today’s Power have invested toward the success of this project.”
Bright began the process of looking into solar power a year ago. He realized that the cost of installing a solar facility was decreasing, while the benefits would serve the cooperative members in the future.
“We are so proud to have been selected to partner with Farmers in developing this project. I have been impressed by Farmers Board of Directors and Management in recognizing how a project like this can serve as a stimulus for economic development for the entire area” says Michael W. Henderson, President of TPI.