Mon Power and Potomac Edison Break Ground on Third Solar Site
Rhea-AI Summary
Mon Power and Potomac Edison, subsidiaries of FirstEnergy Corp. (NYSE: FE), have begun construction on their third utility-scale solar site in West Virginia. The Marlowe solar project, located on a former ash disposal site in Berkeley County, will produce up to 5.75 megawatts of renewable power when completed in 2025. This project is part of the companies' West Virginia solar program, which aims to develop 200 megawatts of solar renewable generation over time.
The companies have already completed an 18.9-megawatt project at Fort Martin Power Station and started construction on a 5.5-megawatt site in Rivesville. In total, five projects will create over 87,000 solar renewable energy credits (SRECs) available for purchase by customers. The program has enrolled both residential and large commercial customers, with SREC purchases costing 4 cents per kilowatt hour in addition to normal rates.
Positive
- Construction begun on third utility-scale solar site in West Virginia
- Marlowe solar project to produce 5.75 megawatts of renewable power
- Part of a larger plan to develop 200 megawatts of solar renewable generation
- Creation of over 87,000 solar renewable energy credits (SRECs) for customer purchase
- Utilization of local union workers and US-made equipment for construction
Negative
- None.
News Market Reaction – FE
On the day this news was published, FE gained 0.07%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Former ash landfill in
The
Dan Rossero, Vice President of FirstEnergy's West Virginia Generation: "The redevelopment of this site into a clean, renewable energy source is aligned with our commitment to support economic growth in
Expected to be complete in 2025, the
The project is part of the companies'
Mon Power and Potomac Edison are developing five solar projects that will total 50 megawatts of renewable solar generation, the first phase of 200 megawatts the companies plan to develop over time. The companies completed their first solar project at Fort Martin Power Station in
Combined, the five projects will create more than 87,000 solar renewable energy credits (SRECs) available for purchase by customers who support renewable energy in
Since the inception of the solar program, Mon Power and Potomac Edison have enrolled residential customers as well as large commercial and institutional customers including the National Energy Technology Laboratory (NETL) in
The companies will seek final approval from the Public Service Commission of
Mon Power serves about 395,000 customers in 34
Potomac Edison serves about 285,000 customers in seven counties in
FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than six million customers in
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SOURCE FirstEnergy Corp.