EVRAZ North America, Xcel Energy and Lightsource BP announced they have reached a long-term agreement to develop a new 240-megawatt solar facility in Pueblo. This innovative agreement makes possible EVRAZ North America’s planned long-term investment in Colorado, while supporting the goals of Xcel Energy’s partners and community. Lightsource BP and project investors on its side will invest an estimated USD 250 million into the solar facility. Lightsource BP will build, own and operate the Bighorn Solar project and sell all the electricity it generates to Xcel Energy under a long-term power purchase agreement.
The project is expected to go online by the end of 2021. It will be located on EVRAZ Rocky Mountain Steel property in Pueblo, making it the largest on-site solar facility dedicated to a single customer in the country.
Mr James Skip Herald, president and CEO of EVRAZ North America said that “This pioneering partnership with Xcel Energy and Lightsource BP marks a milestone for the development of our new rail mill and will make EVRAZ North America the industry leader in the use of renewable energy to produce the greenest steel and engineered steel products in the world, from rail to rod & bar. This long-term agreement is key to our investment in Colorado’s new sustainable economy.”