7X Energy has signed a second power purchase agreement (PPA) for the remaining power of its 690MW Taygete Energy Project located in Pecos County, Texas.
The solar energy from the Taygete facility is being purchased by two large corporate entities in SolarBlocks, a fixed shape solar energy product offered by 7X Energy.
7X Energy said that Taygete is constructed in two phases with the first phase starting construction in third quarter of 2019 and the second phase in first quarter of 2020.
Once completed, the Taygete facility is claimed to become the largest solar facility in Texas and the fifth largest solar photovoltaic (PV) project in the US.
Pecos County Judge Joe Shuster said: “Pecos County is proud to have 7X Energy’s Taygete Energy Project and, upon completion, not only will it be the largest solar farm in the State of Texas, it will also make Pecos County the largest solar-producing county in the state.
“This new industry brings multiple jobs to the county, provides good revenue to the landowners, provides electricity to the local grid, and helps create a stable tax base so that Pecos County can continue to provide services such as law enforcement, fire protection, maintenance of roads and bridges, medical, and emergency medical services to county residents.”
The Taygete Energy Project, which will require a capital investment of over $650m, is expected to bring approximately 500 jobs to Pecos County during peak construction, while the construction will be carried over a two-year period.
The company said that the project is capable of generating tens of millions of dollars of revenue to the county and other local taxing authorities in the form of property tax, to support regional needs.
7X president and CEO Clay Butler said: “Taygete is a fantastic project and an example of how 7X is leading the energy transition. Big solar is a win-win for Texas, serving as an economic boost to agriculture, jobs, and infrastructure while cutting electricity costs for buyers.”
The Taygete project forms the company’s third large-scale solar project in Texas. It also originated and developed the 136MW Lapetus project, and originated and jointly developed the 315MW Phoebe project.