Scout Clean Energy, a Colorado-based renewable energy developer-owner-operator announced it has signed an agreement with Colgate-Palmolive to purchase power from Scout’s 209-MWDC Markum Solar Farm near Waco, Texas. Markum Solar Farm will generate enough clean energy for the ERCOT grid to power approximately 32,200 homes.
Scout plans to begin project construction in fall 2023. Scout Clean Energy will manage the construction and it is targeted to be complete by the end of 2024.
“With the PPA and construction contracts executed, we are extremely excited to move forward with the 209-MW Markum Solar project. These contracts provide Scout the certainty to build our first solar project,” said Michael Rucker, CEO and founder of Scout Clean Energy. “We had significant interest in the project and are pleased to have completed a power purchase agreement with Colgate-Palmolive.”
Markum is in both McLennan and Bosque Counties. The project will result in approximately 300 temporary construction jobs and three permanent full-time positions when the facility begins operation and the economic benefits to the community from new tax revenue over the life of the project are expected to be significant.
Scout is a portfolio company of Brookfield Renewable. Brookfield acquired Scout at the beginning of 2023, and Scout continues to execute on its significant growth plans.
“Markum Solar is an important catalyst for Scout and provides us with our first greenfield solar project that is ready for construction. Markum paves the way for additional Scout-owned projects which are scheduled to commence construction over the next year,” said Michael Rucker.
Scout’s legal advisor was Stoel Rives LLP and Colgate-Palmolive’s legal advisor on the transaction was Morgan, Lewis & Bockius.
News item from Scout Clean Energy