cardinal land investors llc arkansas solar

The planned portfolio of Cardinal Renewables projects, for example, could help to offset greenhouse gas emissions equivalent to removing nearly 90,000 passenger cars from the road annually.įounded in 2016, Alchemy has an innovative approach to development and tax equity placement for renewable power generation projects, leveraging the expertise and network of its parent company, Monarch Private Capital, which has facilitated investments in projects generating $3 billion tax credits since 2005. As part of its investment process, the Carlyle Renewables team models out the total potential carbon emissions abatement capacity of each project to better understand the potential climate impact of the investment. Oldenburg, a Principal with the Renewable and Sustainable Energy team. The company will host job fairs to recruit for positions at the Grant County site later this month.“Cardinal Renewables’ core investment strategy – to develop and sell solar power generation assets in the US – is an important component of the critical global energy transition,” says J. “I am confident that this investment will benefit both the company and our communities for years to come.”īy co-locating the pellet facilities with sawmills, Drax said it will benefit from lower infrastructure, operational, and transportation costs.ĭrax owns and has interests in 17 other pellet plants and development projects across the U.S. “Drax’s ambitious company vision combined with the renowned tenacity and loyalty of Arkansans make this partnership an excellent match,” said Gov. By using sustainable biomass, we have displaced coal-fired power generation, reduced carbon emissions and provided renewable electricity for millions of homes and businesses in the UK.” “Through this investment, Arkansas will play an important role in combating climate change, supporting Drax to increase the amount of sustainable biomass we produce as part of our plans to pioneer bioenergy with carbon capture and storage.

“By building these new pellet plants Drax is bringing jobs and opportunities to rural communities in Arkansas, boosting the state’s post-COVID economic recovery,” said Will Gardiner, Drax Group CEO.

The development of the “satellite” pellet plants is part of Drax’s strategy to increase biomass self-supply to five million tons by 2027, improving supply chain resilience while reducing pellet costs. to become the largest decarbonization project in Europe by converting it to use sustainable biomass instead of coal. In total, Drax will invest $40 million in the state, creating approximately 30 new direct jobs and more indirect jobs across three Arkansas communities.ĭrax has transformed its power station in the U.K. The company will begin construction on two more plants in other locations in the coming months. The three plants are together expected to produce approximately 120,000 metric tons of sustainable biomass pellets a year from sawmill residues, supporting the renewable energy company’s plans to increase self-supply to its power station in the U.K.ĭrax will begin construction of the first plant later this month near a West Fraser sawmill in Grant County – with commissioning expected in October. Drax Group is a worldwide sustainable biomass production and supply company.

Drax Group announced Thursday it will begin constructing the first of three new “satellite” pellet plants in Arkansas.

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