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Tuesday, April 23, 2024

[KJD, EXCLUSIVE] Samsung C&T proposes $153 million solar power plant in Texas

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The area outlined in red is the proposed site of a solar power plant by Samsung C&T in Delta County, Texas. [TEXAS COMPTROLLER]

A unit of Samsung C&T is considering developing a solar power plant worth $153 million in Texas with the aim of making it operational by the end of 2027, according to documents filed with the state.
 
A spokesperson at Samsung C&T confirmed Thursday that it is working to carry out the project, adding that its maximum capacity will be 150 megawatts.  
 
The documents made public on Texas Comptroller’s website said that Samsung C&T America is aiming to have the solar farm up and running by December, 2027 after commencing construction in January of that year. It will sit on a surface area of approximately of 880 acres in Delta country, Texas.  

Solar power developers typically sell energy projects to a third-party builder at a later stage, but Samsung C&T said that it is not yet decided whether it will construct or operate by itself.  

Filings were made applying for tax incentives, with the latest noting that the project qualifies for a 15-year tax benefit of $5.5 million. 

“None of the current project agreements firmly commit the applicant to the development of the project,” a filing noted, saying that a number of variables remain undetermined at this stage.  

The construction and trading company is furthering its footing in the southern state where Samsung Electronics operates a chip fabrication plant in Austin and has plans to build more factories in the coming years in Taylor.  

But a Samsung C&T spokesperson noted that the solar farm is not related to Samsung Electronics.  

In the United States, Samsung C&T has developed a number of solar power plants and energy storage systems, whose combined capacities stand at 13 gigawatts.  

Outside of the U.S., C&T’s landmark initiatives include a wind solar power cluster in Ontario, Canada, a project worth $6.7 billion. It signed an agreement in 2010 to build and maintain the site for 20 years.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]