O3 Energy, UPower, and AVANA Capital have teamed up to build

|Jul 2|magazine6 min read

DALLAS, July 2, 2020 /PRNewswire/ -- Solar industry leaders O3 Energy and UPower Energy have begun moving forward with a 7.5-Megawatt utility-scale solar portfolio in Texas that is being financed by AVANA Capital.

This portfolio of work enables five different Texas rural electrical Co-ops the ability to offer renewable energy via solar power to thousands of residential and commercial customers throughout Central and West Texas. O3 and UPower are utilizing the latest in solar technology to ensure the highest power output and level of performance. The 7 solar farms maximize efficiency by using semi-transparent bi-facial panels combined with Archtech Solar Skyline E-W axis trackers. The combination of these allow for up to a 30% increase in electricity production.

Despite the challenges of launching construction during a global pandemic, O3 Energy, UPower and AVANA collaborated to deal with supply chain challenges and uncertainties.

"This is a massive portfolio of work for O3 Energy and UPower," said Brad Stutzman, CEO of O3 Energy. "Not only will thousands of customers now have access to renewable energy, but we will be creating dozens of new jobs to build these solar power plants." 

"This is our 2nd time working with Eric Ma and we are delighted to have supported Upower's solar energy expansion into Texas through the funding of these 7 solar PV plants. AVANA Capital is dedicated to furthering clean energy and specifically the rural electric utility market and we look forward to continuing our partnership with Upower for many years to come," said Walter Cuculic, Senior Vice President and Head of AVANA Capital's Renewable Energy Group.

About O3 Energy
Specializing in the development, construction, and operations of solar energy systems and facilities, Dallas-based O3 Energy has provided renewable solutions for heavy power users since 2011. The company offers a wide range of clients with affordable, clean energy through onsite generation. 

About UPower Energy
Located in Austin, Texas, UPower Energy invests in the distributed clean energy generation, primarily with solar energy. We work with ESPs and grid operators to identify load profile characteristics, strategically allocate distributed energy resources, and build the renewable energy facilities from scratch.

About AVANA Capital
Located in Austin, Texas, UPower Energy invests in the distributed clean energy generation, primarily with solar energy. We work with ESPs and grid operators to identify load profile characteristics, strategically allocate distributed energy resources, and build the renewable energy facilities from scratch.

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SOURCE O3 Energy