1.3MW DC Grid-Tied Array will provide Solar Power to Cooperative Utility Customers Later This Summer; Community Solar Program Launches Today at Mid-South Synergy’s 75th Annual Meeting
Denver, CO (June 19, 2015) – TurningPoint Energy, a clean energy development, advisory and investment firm, today announced its co-development efforts as an advisor to Mid-South Synergy to actualize a 1.3MW Community Solar Project that will be available to the cooperative utility’s customers later this summer.
Mid-South Synergy purchased a site on its distribution system that would maximize value for new solar electric generation to its system and contracted TurningPoint Energy to successfully guide the cooperative utility through the complex process of self-developing its first solar project.
“In 2014, our customers confirmed they wanted solar energy options. After meeting with several in the solar industry, it was clear to us that we needed a solar industry expert to guide us through our initial project,” said Troy Morris, Vice President of Business Relations. “We have been very pleased with TurningPoint Energy, its depth of knowledge and network of resources, to help us navigate this very important initial solar project.”
To construct the 1.3MW project that is planned to become operational later this summer, Mid-South Synergy has secured relationships with the following business partners: CoBank, Farm Credit Leasing, Array Construction (ArrayCon) TurningPoint Energy, and MSEC Enterprises. It formally announced the project is open for subscription at its 75th annual meeting earlier today at Walker County Fairgrounds in Huntsville, Texas and anticipates the project will be fully subscribed within the coming months. It plans to build additional phases of solar capacity as the desire for renewable power continues to grow within their membership.
“After spending the last eight years developing, financing, building and operating solar power plants for utility and commercial clients working at larger global development companies, our team at TurningPoint Energy formed to bring an unparalleled breadth of expertise, transparency and a consultative approach to developing the lowest cost clean energy projects our clients have ever seen,” said Jared Schoch, principal and founder of TurningPoint Energy. “Instead of simply developing the project for Mid-South Synergy and turning it over to them once built, we have co-developed the project transparently, exposing all the true costs and project realities with their involvement and decision making every step of the way.”
TurningPoint Energy is performing formal advisor, consultant and owner’s representative services for Mid-South Synergy working through the land development, permitting, general contractor procurement and negotiations, project management, independent engineering, and operations and maintenance service provider procurement and negotiations process. Procurement of the design, construction, operations and maintenance components of the project have been completed with current efforts working through 100 percent design approval. The project is targeted to break ground within the next month. An additional announcement is planned once the project becomes fully operational late this summer.
“We are currently working with several municipal utilities, cooperative utilities and commercial clients that want to provide solar energy to their customers at the lowest possible cost. These clients either want us to provide advisory services like in the case of Mid-South Synergy or want us to develop, finance and actualize these projects for them transparently, with no surprises along the way,” said Schoch. “We are excited to bring this alternative approach to an industry historically very secretive and with less flexible approaches.”
About TurningPoint Energy
TurningPoint Energy is a clean energy advisory, development and investment company headquartered in Denver, Colorado. Its principals have experience developing solar projects totaling more than $1.7 billion in value over 500MW of operating solar power plants throughout the United States within the last eight years. TurningPoint Energy is structured as a privately held, lean company with some of the lowest overhead and profit requirements in the energy industry, the ability to make decisions quickly and customize our projects to each customer’s needs. For more information about TurningPoint Energy, visit turningpoint-energy.com.
About Mid-South Synergy
Mid-South Synergy is a member-owned, electric distribution cooperative located in Navasota, Texas. Their service territory consists of Grimes, Walker, Montgomery, Madison, Waller, and Brazos counties. Founded in 1940, the cooperative has seen tremendous growth over the past 75 years in both the rural and urban areas. Mid-South Synergy has and continues to expand into new markets to meet the ever-changing needs of its 21,000 plus membership, including a water and wastewater subsidiary located in Montgomery, Texas. The cooperative is excited to add solar to its renewable portfolio, and is looking forward to offering a simple and affordable solar solution to their diverse membership. For more information about Mid-South Synergy, a Touchstone Energy Cooperative, visit www.midsouthsynergy.com/synergysolar.