Swift Current Energy Brings Online 138 MW Harvest Gold Solar Project in Mississippi

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Oct 24, 2024, 07:00 ET

PNC Bank is providing tax equity and Target will purchase 100% of the energy produced by the project

BOSTON and INDIANOLA, Miss., Oct. 24, 2024 /PRNewswire/ -- Swift Current Energy (Swift Current) today announced that it has closed tax equity financing with PNC Bank for its 138 MWdc (99 MWac) Harvest Gold Solar project (Harvest Gold or the Project) located in Sunflower County, Mississippi. The Project reached commercial operation this summer and is now producing enough energy for the equivalent of more than 23,000 homes annually.

Target Corporation (Target) is purchasing 100% of the energy and renewable energy credits produced by Harvest Gold to support its goal of being Net Zero by 2040. Target and Swift Current previously collaborated on Swift Current's 197 MW Castle Gap Wind project located in Texas. Swift Current is the long-term owner and operator of the Project, adding to its growing fleet of renewable energy projects. By the end of the year, Swift Current will own and operate more than 1 GW of renewable energy projects.

Eric Lammers, CEO and Co-Founder of Swift Current, said, "We are thrilled to complete development and start operations on our first project in Mississippi. The Swift Current team takes pride in how we have developed Harvest Gold, forming relationships in Sunflower County that will continue through operations of the project. We thank Target for their continued partnership on our projects, and we're pleased to receive strategic financing from PNC Bank."

Harvest Gold Solar expands Mississippi's energy diversity and is expected to reduce regional carbon dioxide emissions by more than 175,000 tons per year.

During its operational life, Harvest Gold Solar is expected to provide more than $1.4 million per year in tax revenue to Sunflower County and the County public schools. In addition to tax revenue, Swift Current will contribute $1.5 million to local charities over 20 years, including The Fannie Lou Hamer Cancer Foundation, South Sunflower County Hospital and Sunflower County Homeless Transition Shelter.

Sunflower County Board Attorney Johnny McWilliams said, "We are excited to have Harvest Gold Solar here in Sunflower County. From road and bridge agreements to getting involved in charitable causes, Swift Current Energy has become a responsive and contributing member of our community. We are excited about the economic impact that this project has already created and will continue to bring to Sunflower County."

Freddie White-Johnson, Founder and CEO of The Fannie Lou Hamer Cancer Foundation, added, "The support from Swift Current Energy means more to us than words can convey. It's not just the monetary value; it's about hope, national partnership and encouragement. With the support of Swift Current's investment, we are making strides in building a headquarters for our foundation in the heart of the rural Mississippi Delta where poverty is overwhelming, resources are limited and people are dying rapidly from this dreadful disease. Their support is also helping us to further provide assistance to underserved and underinsured community members as we increase awareness for cancer risks and promote the importance of cancer screening."

Swift Current partnered with Moss as the engineering, procurement, and construction (EPC) firm for the Project. Harvest Gold utilizes US-manufactured First Solar Series 7 modules. Harvest Gold Solar employed approximately 250 people at the peak of its construction and reached commercial operation with over 270,000 safe person-hours. Harvest Gold worked with Entergy to build and transfer the Round Lake switching station supporting the Project's interconnection to the local grid.

About Swift Current Energy
Swift Current Energy is trailblazing a path for clean energy now. Founded in 2016, the company develops, owns and operates highly competitive, utility-scale wind, solar and energy storage projects across the United States. Swift Current Energy is majority-owned by Buckeye Energy Holdings, with the other owners being IFM Net Zero Infrastructure Fund and Lookout Ridge Energy Partners. For more information, please visit swiftcurrentenergy.com.

SOURCE Swift Current Energy