Green & Clean Power Lands $300M for Solar and Battery Storage Facility in Arkansas
Green & Clean Power LLC (GCP) has obtained $300 million in financing to construct a 500-acre solar and battery storage facility in Osceola, Arkansas. The project, expected to be completed by fall 2025, will deliver renewable energy to its affiliate, Hybar LLC, a new scrap metal recycling and steel rebar mill.
The financing includes $165 million from KfW IPEX-Bank and $100 million from the Arkansas Teacher Retirement System (ATRS). Engineering and construction will be managed by DEPCOM Power Inc.
GCP will meet 40% of Hybar's annual energy needs through on-site solar power, enabling the steel mill to become one of the world's lowest carbon emitters in its sector. "This benefits our state, our environment, and most of all, it will benefit our members," said Mark White, Executive Director of ATRS.
The facility also aims to sell surplus power to third-party customers via grid interconnection through MISO, enhancing regional renewable energy capacity.
"Access to renewable energy was a major component of Hybar's mission," said Ari Levy, Partner at Global Principal Partners and CFO of both GCP and Hybar. "To our knowledge, this will be the first renewable power installation in the industry to provide a steelmaking facility with solar-generated electricity on a behind-the-meter basis."
