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Green technology

Silicon Ranch Corp. Expands Solar Power Capacity, Meets Growing Demand for Renewable Energy

Strategic Insights

— 1 min read

Electricity producer Silicon Ranch Corp. is set to expand its solar power farm in Millington, Tennessee, with the potential to increase energy production by doubling its current capacity. The move comes as Facebook, General Motors, and other companies demand more locally produced renewable energy. The Nashville-based firm has begun purchasing farmland options near its existing 420-acre solar station, which was built at a cost of $100 million and has a power output of 53 megawatts.

Key Takeaways:

  • Silicon Ranch Corp. is expanding its solar power farm in Millington, Tennessee, which could increase energy production by doubling its current capacity of 53 megawatts.
  • The expansion is driven by growing demand from companies like Facebook and General Motors for locally produced renewable energy.
  • The solar farm's power flows into the Tennessee Valley Authority's (TVA) grid, making it attractive to companies looking to enhance their green brand.
  • Silicon Ranch currently operates 140 solar farms in 14 states, with the majority in West Tennessee and Northeast Mississippi.
  • The company has received $225 million from investors Royal Dutch Shell, Toronto-Dominion Banks TD Greystone Infrastructure Fund, and Mountain Group Partners.

Statistics:

  • The current solar station in Millington, Tennessee, has a power output of 53 megawatts, enough to supply about 5,300 households for a year.
  • Solar power stations operated by various companies throughout the country supply 91 billion kWh of electricity, or 2.3% of the power consumed annually in the United States.
  • Silicon Ranch aims to expand solar production by an additional 1 gigawatt by 2024.
  • Memphis averages about 218 sunny days each year, making it an ideal location for solar energy production.
  • The firm operates solar stations at AgriCenter International, Memphis Bioworks, and Nike's North America Logistics campus in Memphis.

Sources:

  • "Silicon Ranch Corp. Expands Solar Power Capacity, Meets Growing Demand for Renewable Energy" (2021)
  • Tennessee Valley Authority (TVA)
  • U.S. Department of Energy
  • Bureau of Land Management
  • SyndiGate Media Inc. (Syndigate.info)

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