O3 Energy, UPower and AVANA Capital develop utility-scale solar portfolio in Texas

O3 Energy and UPower Energy are developing a 7.5 MW utility-scale solar portfolio in Texas that is being financed by AVANA Capital.

This portfolio of work enables five different Texas rural electrical Co-ops the ability to offer renewable energy via solar power to thousands of residential and commercial customers throughout Central and West Texas.

The seven solar farms maximize efficiency by using semi-transparent bi-facial panels combined with Archtech Solar Skyline E-W axis trackers. The combination of these allow for up to a 30% increase in electricity production, the company explained.

“This is a massive portfolio of work for O3 Energy and UPower. Not only will thousands of customers now have access to renewable energy, but we will be creating dozens of new jobs to build these solar power plants.” 

Brad Stutzman, CEO of O3 Energy.

“This is our 2nd time working with Eric Ma and we are delighted to have supported Upower’s solar energy expansion into Texas through the funding of these 7 solar PV plants. AVANA Capital is dedicated to furthering clean energy and specifically the rural electric utility market and we look forward to continuing our partnership with Upower for many years to come.”

Walter Cuculic, senior vice president and head of AVANA Capital’s Renewable Energy Group.