Financial News

Paragould, Evergy Commemorate Solar Project Now Online

On Monday Nov. 8, Paragould, Ark., Light Water & Cable, the city’s Economic Development Corporation, and the Chamber of Commerce officials were joined in Paragould by representatives of Evergy for a ribbon-cutting ceremony for the city’s solar array.

The 1.92 megawatt (MW) system began commercial operation in November 2021. The array was constructed by using bifacial solar panels in combination with Schletter single axis trackers – the first Schletter trackers to be installed in the United States. Installing bifacial panels with single-axis trackers will optimize the efficiency of the solar array over its lifetime. The 4,692 panel array will generate about 3.4 million kWh annually, which is equivalent to providing over 200 homes with energy for one year.

Evergy has provided energy management services to Paragould Light Water & Cable (PLWC) for more than a decade and won a competitive bid to build the solar array for PLWC and to bring clean energy to the customers of Paragould.

“At Evergy, our goal was to ensure that the energy generated from the new solar array was the lowest cost peak power resource in PLWC’s energy portfolio. We are excited to be partnering with PLWC in bringing clean energy solutions to the customers of Paragould,” said Lloyd Jackson Managing Director, Evergy Energy Partners.

With more than 26,000 residents, the city of Paragould is committed to offering clean, affordable energy solutions to serve the needs of its residents and encourage industry in the area. In 2020, Paragould embarked on their mission of becoming a more sustainable city by adding a renewable source to their energy portfolio. Evergy was selected through a request for proposal (RFP) to offer innovative, solar energy solutions to the Paragould community.

“We are proud to bring solar-generated power to the citizens of Paragould, and to do so with Evergy, a trusted partner for 18 years,” said Darrell Phillips, CEO of Paragould Light Water & Cable. “PLWC continues on a progressive track with our recent 1-GIG internet launch, and now we’re generating solar energy in an exciting new way. We’re building superior infrastructure in our city and providing reliable products for our friends and neighbors.”

Because cost savings is a crucial goal for PLWC, Evergy was able to offer a product that will help offset Paragould’s energy costs by providing affordable power to add to PLWC’s overall energy portfolio. Evergy has structured the agreement as a Build/Transfer Agreement for Paragould’s municipal power company, and the city of Paragould will offset their energy costs with clean and affordable energy, a win-win for all parties involved.

About Evergy, Inc.

Kansas City, Mo.-based Evergy, Inc. (NYSE: EVRG) serves approximately 1.6 million customers in Kansas and Missouri. We generate nearly half the power we provide to homes and businesses with emission-free sources. We support our local communities where we live and work and strive to meet the needs of customers through energy savings and innovative solutions.

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