Bank OZK is going solar, in a big way! We are investing in a new solar power plant to supply 100 percent of the electricity to be consumed 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 environmentally responsible renewable energy. This is the largest investment in renewable energy by an Arkansas-based financial services company to date. It will aid the environment by making a significant reduction in the Bank’s carbon footprint while providing stable, predictable energy costs for decades to come.
The new power plant is expected to have approximately 12,000 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, which is enough to power over 1,000 homes for a full year.
Using renewable solar energy benefits the environment by shrinking the Bank’s carbon footprint. 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.
Our new headquarters are under construction in Little Rock, and we expect to begin occupying the building in the second quarter of 2020. The solar power plant is expected to be constructed in Central Arkansas, and should be completed within six months following regulatory approval.
Read the full announcement on Bank OZK’s solar investment here.