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SRP approves new solar generating facility — the first of its own - Phoenix Business Journal

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SRP will use federal incentive money made available through the Inflation Reduction Act for the project. phoenix

The Salt River Project is set to begin work on the second phase of a solar installation that will be the nonprofit utility’s first utility-scale solar asset that it develops, owns and operates by itself.

The funding will also help the utility run the project on its own from start to finish. In the past, SRP has contracted renewable generation through agreements with developers, who in turn benefit from tax credits. Work on the installation is expected to take 24 months, the company said, noting that when the project is up and running it will help bring its level of carbon-free retail energy to more than 50% by 2025.

 

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