Ground broken on Posey County solar farm
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Work has begun on a $352 million solar farm in southwest Indiana.
Officials with Arizona-based Arevon Energy Inc., CenterPoint Energy Inc. and the Indiana Office of Energy Development broke ground Friday on the Posey Solar Project, which is expected to generate enough energy to power more than 25,000 homes when complete.
Plans for the 228-megawatt solar farm were first announced in September, and Arevon said last month it had secured financing for the project.
The project is being developed in collaboration with Virginia-based Bechtel, and CenterPoint Energy in Evansville will acquire the farm after it’s completion through a build-transfer agreement.
CenterPoint received approval to acquire the farm from the Indiana Utility Regulatory Commission in October. The utility will serve as the farm’s long-term owner and operator.
“We value the relationship built with Arevon as we continue through the process to construct and bring into service a renewable project that will further diversify CenterPoint Energy’s electric generation portfolio,” Richard Leger, senior vice president of Indiana electric, said in a news release. “We remain committed to being a good neighbor in the communities we serve and look forward to delivering environmentally sustainable energy to Posey County and our entire southwestern Indiana footprint through this project for years to come.”
The project is expected to create more than 200 full-time construction jobs. In addition to the solar arrays, the project will include a 20-acre pollinator garden.
Posey County landowners will receive lease payments and more than $30 million will be paid to local governments over the farm’s 35-year life span, Arevon said in the release.
The developer also provided $219,000 toward new communications towers in Posey County to support first responders, with additional contributions being made to the Marrs Township Fire Department over the life of the project.
“Posey Solar provides significant benefits to the state of Indiana and to Posey County, including cost-effective renewable energy, substantial construction jobs, and long-term tax benefits to the region,” Arevon CEO Kevin Smith said. “Arevon appreciates our partners and the stakeholders who made this project a reality, and we look forward to advancing the Posey Solar Project into operations.”
Posey Solar is expected to be operational in mid-2025.