Bank OZK Approved to Move Forward with Significant Solar Energy InvestmentMarch 16, 2021 in Corporate News
Bank OZK has received regulatory approval to proceed with our $6 million investment in clean, solar energy. Our solar power plant will supply 100 percent of the electricity at our new corporate headquarters and up to 40 other Arkansas banking locations.
We are pleased to be at the forefront of our industry as we make this commitment to renewable energy, reducing the Bank’s carbon footprint while providing stable, predictable energy costs for decades to come.
The new power plant is expected to have over 11,000 solar panels. It will be the third-largest commercial solar facility dedicated to a private sector customer in the State of Arkansas. The plant’s annual capacity will be 8.1 million kilowatt-hours of electricity, enough to power over 1,000 homes for a full year.
Relying on solar power will reduce approximately 160,000 tons of carbon dioxide from the air over the next 30 years. Stated another way, this is equal to the carbon emissions of over 390 million passenger car miles.
Read the full announcement on Bank OZK’s regulatory approval for our solar initiative here.