Kentucky Governor Andy Beshear announced Martin County Solar Project, currently under development by Savion, is moving forward with plans to locate on a former coal mine in unincorporated Martin County, a project that includes up to a $231 million investment and creation of 11 full-time Kentucky jobs.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) approved Martin County Solar Project for up to $600,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
“We are building a future that works for all Kentuckians, and that future includes an increased reliance on renewable energy,” Gov. Beshear said. “To maintain the incredible economic momentum we have established this year, we must continue to compete for all forms of energy investment. I want to thank Savion for choosing Kentucky.”
The solar energy generation facility will be located on approximately 1,200 acres on the old Martiki mine site in Martin County, interconnecting with Kentucky Power’s 138-kilovolt Inez Substation. When built, the project will create capacity of up to 200 megawatts and will produce enough energy to power the equivalent of more than 33,000 Kentucky homes.
Construction of the facility is expected to begin in 2022 and be commercially operational by early 2024. During the 12- to 18-month construction period, company leaders report the project will create between 250 and 300 construction jobs, in addition to 11 full-time Kentucky jobs, including eight in Martin County. Upon completion, the project will be one of the largest solar energy generation facilities operating in Kentucky.
“It’s exciting to reach this milestone in the project’s development, which moves us closer to the start of construction and commercial operation,” said Erich Miarka, director of development for Savion. “This opportunity would not be possible without the support of Martin County, Martin County School District, the Kentucky Cabinet for Economic Development and Edelen Renewables. Thank you for your continued efforts to advance this unprecedented project.”
Savion’s solar project includes a local partnership with Edelen Renewables, which has played a key role in the initial phase of development.
“This country owes a tremendous debt to the people and communities that powered the industrial development of America for a century: our miners and coal communities,” said Adam Edelen, founder and CEO of Edelen Renewables. “The Martin County coal-to-solar project is an effort to bring the opportunities of a newer, greener economy to the coalfields. Doing so has required the strong support of the Beshear administration and local leadership. We are grateful to all for their support.”
“On behalf of the Martin County Fiscal Court, I am excited to see the Martin County Solar Project come to fruition,” Judge/Executive Slone said. “This investment will impact our community for years to come. I look forward to the new jobs that will be created in Martin County throughout the course of this project, and I am confident other companies will take notice of the opportunity to invest in Martin County as a result.”
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