National Renewable Solutions has begun the development of the Frying Pan Sun Ranch (FPSR), a 200MWac solar project located in Potter and Randall Counties, Texas. This project will utilize NRS’ Community-Model through landowner participation project development venture, as well as the incorporation of their land for siting activities. The project is proposed to be located on two or three sections of land held under one landowner for a nearly cohesive site.
Through related development activities within the area, NRS has coordinated with one land-holding party who owns several thousand acres within reasonable distance to two substations on the 345kV Competitive Renewable Energy Zone (CREZ) system within the Electric Reliability Council of Texas (ERCOT). Other interconnection options include Xcel Energy’s Southwest Public Service Company (SPS) system as a member of the Southwest Power Pool (SPP), and transmission lines owned by Rita Blanca Electric Cooperative (RBEC).
These three systems offer optionality for several different opportunities to target off-takers in multiple markets, which could include a PPA with a single entity or a VPPA with multiple entities sharing respective portions of the facility’s production capacity. Additionally, depending on commercial appetite at the time of project financing, many operators are now opting for a portion of renewable projects to sell power into the market as a “Merchant Resource.”
The project will consist of up to two or three sections of relatively flat land, or up to 1,500 acres consisting of entirely privately-owned land with little to no topographic obstacles or shading features. Currently, the property is used for cattle grazing or ranching purposes. The project holds a commitment from one landholding entity for the whole of the 1,300 acres and can support as much as 200-300MWac of solar, depending on land constraints and layout.
In mid 2021, NRS was acquired by BlackRock Real Assets – Climate Infrastructure Group* (“BlackRock”) with the intention of accelerating the development of its pipeline of projects toward financing, construction, and operations. With NRS’ on-the-ground development and origination expertise and BlackRock’s capital markets support and global reach, we have positioned ourselves as a major player in the U.S. renewable energy market.
* BLACKROCK REAL ASSETS OPERATES ONE OF THE LARGEST CLIMATE INFRASTRUCTURE EQUITY INVESTMENT PLATFORMS IN THE WORLD WITH OVER $9.7 BILLION IN TOTAL COMMITMENTS AND INVESTMENTS IN 450 RENEWABLE POWER AND OTHER CLIMATE RELATED PROJECTS ACROSS 17 COUNTRIES AND 5 CONTINENTS.