Microsoft makes investment in Panola Co. solar farm
Published 5:57 pm Tuesday, August 29, 2023
Through an upfront payment for long-term renewable energy credits, Microsoft is directing climate action and decarbonization investment to a 6.6-megawatt (MWdc) facility in Panola County with the Panola II Solar Farm on Interstate 55.
Through its participation in the project, Microsoft will help prevent approximately 400 million pounds of carbon from entering the atmosphere and generate enough energy to help power approximately 1,000 area homes annually.
The Panola II Solar Farm is one of three new solar projects launched by Clearloop in collaboration with the Tallahatchie Valley Electric Power Association (TVEPA) and with the support of Panola Partnership.
TVEPA is working with Clearloop and Clearloop’s parent company, Silicon Ranch, to bring locally-generated, reliable renewable energy to the county for the first time ever, all at the cost-effective prices that members of the rural electric cooperative have come to expect.
“We’re thrilled that Microsoft has chosen to invest in this new solar farm through Clearloop and proud to welcome them as the newest part of our shared legacy here in Panola County,” said Joe Azar, Executive Director of Economic Development for Panola County.
“This project will create meaningful opportunities for area residents, creating jobs for our skilled workforce, supporting our entrepreneurial pipeline, and demonstrating that our community is a hub of innovation in the making, ripe for growth. We’re grateful to Microsoft for being intentional with its investments that put places like Panola County on the map for more economic growth opportunities in the future.”
As is the case with all Clearloop projects, the Panola II Solar Farm will be developed, owned, and operated by its parent Silicon Ranch for the lifetime of the project. Through this disciplined and community-focused approach, Clearloop will maintain a long-term vested interest in Panola County and the surrounding region. The Panola II Solar Farm is scheduled to achieve commercial operations in 2024.
Clearloop, a leading provider of carbon solutions that accelerate decarbonization of the electric grid and expand clean energy access in American communities that can benefit the most, today announced an agreement with Microsoft, a global technology company with a commitment to be carbon negative by 2030.