Avantus and Toyota Tsusho America (TAI) have officially commenced construction on the 159 MWdc/125 MWac Norton Solar Project located in Runnels County, Texas. This follows Avantus’ sale of the Norton project to TAI in November 2023, a fully-owned subsidiary of Toyota Tsusho Corporation of Japan, part of the Toyota Group. Additionally, TAI has secured construction and term financing through a deal with global financial giant Mitsubishi UFJ Financial Group.
The project has also secured a long-term Power Purchase Agreement (PPA) with a corporate customer. Avantus will manage the construction of Norton, with operations expected to commence by late 2025. RES has been selected to handle EPC services for the project. At peak construction, Norton is anticipated to create 250 jobs and will bring direct economic advantages to Runnels County and the surrounding community during its operational life. The project is projected to offset over 230,000 metric tonnes of carbon annually.
In February 2023, Avantus announced that it had sold its ‘Big Rock I’ energy storage project in California to Gore Street Energy Storage Fund (GSF). The proceeds from the sale are not disclosed yet. The 200 MW energy storage system is expected to be one of the largest in the region and it is expected to become operational in 2024.
