San Antonio, Texas, Solar Power Consortium Plans $1 Billion Investment To Create Electric Power
CPS Energy is the nation's largest municipally owned natural gas and electric utility, providing service the Greater San Antonio area. OCI Solar Power is a solar power industry firm. OCI Solar Power created the consortium to deliver 400 MW of solar to CPS Energy throughout the 25-year life of an agreement. The consortium will build facilities in San Antonio to produce components for solar power generation, including modules, trackers and inverters used to supply the North American market.
San Antonio-based Nexolon America, a manufacturer of components used in solar panels, whose parent company is based in South Korea, will invest $100 million to build a high-tech manufacturing facility and create over 400 jobs. All combined, the consortium estimates its project will create more than 800 long-term jobs. "Nexolon is looking forward to becoming a leader in solar power manufacturing in the U.S. and we're excited that our expansion into North America is taking place in one of the most historic cities in America. We expect to contribute greatly to San Antonio's New Energy Economy," said Nexolon Board Chair and Chief Strategy Officer Woo-Jeong Lee.
"OCI Solar Power is breaking new ground for sustainable energy in the U.S.," said Tony Dorazio, president of OCI Solar Power. "This project will not only serve as a public-private partnership model for communities around the country but also a blueprint for building a new energy development hub. As part of our commitment to this vision and to the San Antonio community, we will also drive investments in education, research and development and the new innovations necessary to sustainably impact the economy and landscape for years to come."
Kirk Milling, president and CEO of OCI Enterprises, said, "the consortium of global solar industry leaders we have assembled will change the way the U.S. is able to access the latest high-performance technologies and processes in solar energy today."
While details on incentives offered the consortium were not immediately available, San Antonio Mayor Julian Castro called the project "an extraordinary approach that fits perfectly with the city's long-range goals of providing more affordable, clean energy and hundreds of jobs for the community.
"CPS Energy's pursuit of clean energy and energy efficiency has attracted seven clean technology companies and a commitment, thus far, of a million dollars to local education. Those are the kinds of partnerships we welcome as we focus on our city's current and future needs," Mayor Castro added.
How are Uncertain Times Altering Company Location Strategies?
Infrastructure Investment as an Economic Stimulus Tool
34th Annual Corporate Survey & the 16th Annual Consultants Survey
Site Selection 2020: The Importance of “Regional Depth” with Global Reach
2020 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row