LITTLE ROCK, Ark. (AP) — A solar project benefitting the University of Arkansas system is receiving nearly $32 million for what’s expected to be the largest commercial and industrial solar project in the state’s history.
Climate United, a national nonprofit coalition, announced Tuesday that the pre-construction financing would be awarded to Scenic Hill Solar for the project. It is the coalition’s first investment from the nearly $7 billion it received from the Environmental Protection Agency’s National Clean Investment Fund.
The investment fund was created by the landmark climate law, the Inflation Reduction Act, which was passed in 2022 and signed by President Joe Biden.
“We are proud to finance this landmark clean energy project that will generate cost savings that benefit students, stimulate economic development in rural areas, and position Arkansas as a leader in our clean energy future.” Beth Bafford, CEO of Climate United, said in a statement.