Panamint Capital Breaks Ground on Historic 1.2 GW Solar Project at Texas Energy Site

Rhea-AI Summary

Panamint Capital has begun construction on Big Rooter Power, a $1.7 billion, 1.2 GWdc solar PV project at its Twin Oaks power station in Robertson County, Texas, described as the largest solar project at an existing coal mining site in North America.

The first phase, Big Rooter West (491 MWdc), is under construction and targeted for commercial operation in August 2028. The second phase, Big Rooter East (658 MWdc), is expected to start construction in December 2026 and begin operations in August 2029. Panamint expects the projects to create over 800 construction jobs and contribute more than $66 million to the local economy over Big Rooter West’s lifetime.

SOLV Energy (NASDAQ: MWH) will provide EPC services; First Solar (NASDAQ: FSLR) will supply about 2 million modules; and Nextpower (NASDAQ: NXT) will furnish NX Horizon tracker systems and software. The project will use over 34,000 tons of domestically manufactured steel and is backed by a long-term power purchase agreement with a large U.S. company, according to Panamint Capital.

Positive

• $1.7 billion investment in 1.2 GWdc Big Rooter Power project
• Two-phase buildout: 491 MWdc West by 2028, 658 MWdc East by 2029
• Over 800 construction jobs and $66 million lifetime local economic impact expected
• First Solar to supply about 2 million solar panels for both phases
• Project to use over 34,000 tons of domestically manufactured steel

Negative

• None.

News Market Reaction – FSLR

-1.41%

-1.41% Session close to close

In the Jul 23 session, FSLR declined 1.41%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

FSLR's supplied earnings history ranged from -13.61% to +4.86%, adding a mixed-response benchmark to...

Analysis

FSLR's supplied earnings history ranged from -13.61% to +4.86%, adding a mixed-response benchmark to this project announcement. Recent Net Selling insider activity was a separate risk factor to monitor.

Key Figures

Project capacity: 1.2 GWdc Project investment: $1.7 billion First phase capacity: 491 MWdc +5 more

8 metrics

Project capacity 1.2 GWdc Big Rooter Power solar PV project

Project investment $1.7 billion Big Rooter Power project

First phase capacity 491 MWdc Big Rooter West

First phase operation August 2028 Big Rooter West commercial operation

Second phase capacity 658 MWdc Big Rooter East

Construction jobs over 800 Jobs created by the projects

Local economic contribution over $66 million Big Rooter West lifetime contribution

Solar panels approximately 2 million Panels First Solar will manufacture for both phases

Historical Context

5 past events · Latest: Jul 16 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 16	Earnings date notice	Neutral	-5.3%	Announced second-quarter results date and conference call details.
Apr 30	Quarterly earnings	Positive	+4.9%	Reported higher sales, earnings, cash balances, and reaffirmed 2026 guidance.
Apr 16	Earnings date notice	Neutral	-1.8%	Scheduled first-quarter results release and investor conference call.
Mar 20	Management change	Negative	-1.5%	Appointed a new CEO while evaluating strategic alternatives and restructuring options.
Feb 24	Annual earnings	Positive	-13.6%	Reported annual sales, earnings, cash growth, and issued 2026 guidance.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

The supplied history showed mixed reactions to positive First Solar earnings-related news, including both gains and declines.

Key Terms

solar pv, epc services, power purchase agreement, 345 kv transmission

4 terms

solar pv technical

"1.2 GWdc solar PV project located at the company's Twin Oaks power station"

Solar PV (solar photovoltaic) describes panels or systems that convert sunlight directly into electricity using semiconductor materials. For investors, it matters because solar PV is a primary way companies and utilities generate renewable power, affecting revenue, capital spending, project returns and exposure to policy incentives or cost changes—similar to how a factory’s machines determine its output and profitability.

epc services technical

"will provide EPC services for the project, including solar, substation and transmission"

Engineering, Procurement, and Construction (EPC) services are turnkey project delivery contracts where a single firm designs a facility, buys the required equipment and materials, and builds the project to operational handover. Think of it like hiring one general contractor who draws the plans, orders the parts, and manages the construction so a complex industrial or infrastructure project is delivered on schedule. Investors care because EPC contracts concentrate technical, schedule and cost risk with the contractor, affecting project profitability, cash flow timing and potential liabilities.

power purchase agreement financial

"Our long-term power purchase agreement with one of country's largest companies"

A power purchase agreement (PPA) is a long-term contract in which a buyer agrees to purchase electricity from a generator at an agreed price and schedule, similar to a multi-year subscription for power or a long-term lease of an energy source. Investors care because PPAs provide predictable revenue and cash flow for the generator, reduce market-price exposure, and shift credit and performance risk to the buyer, all of which affect valuation, financing and perceived investment stability.

345 kv transmission technical

"over 20 miles of new 345 kV transmission"

A 345 kilovolt (kV) transmission line is a high-voltage power line designed to carry large amounts of electricity over long distances between generation sites and distribution networks. Think of it as a major highway for electricity: higher voltage lets utilities move more power with less energy lost along the way, which affects grid capacity, reliability, and the economics of power projects and utility investments.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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BREMOND, Texas, July 23, 2026 /PRNewswire/ -- Panamint Capital has broken ground on Big Rooter Power, a 1.2 GWdc solar PV project located at the company's Twin Oaks power station in Robertson County, Texas. The $1.7 billion project located halfway between Dallas and Houston will be the largest solar project constructed at an existing coal mining site in North America.

Construction is now underway on Big Rooter West, the 491 MWdc first phase that will enter commercial operation in August 2028. Big Rooter East, the 658 MWdc second phase, is expected to begin construction in December 2026 and enter commercial operation in August 2029. The projects will create over 800 construction jobs.

"Big Rooter Power represents our vision for getting more out of America's energy infrastructure and ensuring America's energy dominance," said Apolka Totth, Panamint's Chief Executive Officer. "When Big Rooter is complete, the Twin Oaks complex will have 1.5 GW of operating thermal and renewable power, in addition to over 20 miles of new 345 kV transmission, 1.6 GWh of battery energy storage and 790 MW of Batch Zero data center capacity under development across our 10,000-acre site."

The project represents the transformation of a historic Texas energy site into a next-generation power and digital infrastructure hub, leveraging existing infrastructure to help meet growing electricity demand while extending the economic value of assets that have powered the region for decades.

Big Rooter West project will continue Twin Oaks's 30-year legacy of empowering the local community. With a strong emphasis on local hiring and regional vendor selection, Big Rooter West is expected to contribute over $66 million to the local economy during its lifetime.

To deliver the project, Panamint selected leading U.S. renewable energy companies with extensive experience building, supplying and operating large-scale energy infrastructure.

SOLV Energy (NASDAQ: MWH), a leading provider of utility-scale energy infrastructure solutions, will provide EPC services for the project, including solar, substation and transmission infrastructure. "Big Rooter is a landmark project that reflects the scale of investment being made in America's energy future," said George Hershman, SOLV Energy CEO. "We are proud to partner with Panamint on this important project and help bring their vision to life. From project delivery through long-term asset performance, our focus is on creating lasting value for communities, customers and stakeholders."

First Solar (NASDAQ: FSLR) will manufacture approximately 2 million solar panels at facilities in Ohio, Louisiana and Alabama for Big Rooter West and Big Rooter East. Nextpower (NASDAQ: NXT) will deploy its advanced NX Horizon™ solar tracker systems with Hail Pro-75™ and NX Navigator™ software to enhance performance and reliability in all weather conditions. The projects will use over 34,000 tons of domestically manufactured steel.

"We are proud to use domestically manufactured equipment made by American companies and installed by American workers," said Mr. Stanton, Managing Director of Development. "Our long-term power purchase agreement with one of country's largest companies will ensure the electricity we generate at Big Rooter will power job creation in the American economy into the 2050s."

 About Panamint Capital LLC

Panamint Capital is a woman-led energy investment firm, minority-owned by Global Atlantic Financial Group, a wholly owned subsidiary of KKR, and headquartered in Incline Village, Nevada. The firm is at the forefront of redeveloping legacy assets, and currently manages over 3 GW of operating and development-stage conventional and renewable energy assets across North America.

Contact

info@panamintcapital.com

View original content:https://www.prnewswire.com/news-releases/panamint-capital-breaks-ground-on-historic-1-2-gw-solar-project-at-texas-energy-site-302833535.html

SOURCE Panamint Capital LLC

FAQ

What is the Big Rooter Power project announced by Panamint Capital at Twin Oaks?

Big Rooter Power is a 1.2 GWdc solar PV project at Panamint Capital’s Twin Oaks power station in Texas. According to Panamint Capital, the $1.7 billion development repurposes a historic coal mining site into a large-scale renewable and digital infrastructure hub.

When will the Big Rooter West and Big Rooter East phases begin operations?

Big Rooter West is targeted to enter commercial operation in August 2028, while Big Rooter East is expected to start operating in August 2029. According to Panamint Capital, East construction is planned to begin in December 2026, following West’s earlier buildout.

How does the Big Rooter project impact the local Texas economy and jobs?

Big Rooter is expected to create over 800 construction jobs and generate more than $66 million for the local economy over Big Rooter West’s lifetime. According to Panamint Capital, the project emphasizes local hiring and regional vendor participation in Robertson County, Texas.

What role does SOLV Energy (NASDAQ: MWH) play in the Big Rooter solar project?

SOLV Energy, listed as MWH, will provide EPC services for Big Rooter, covering solar, substation, and transmission infrastructure. According to SOLV Energy, its focus spans project delivery and long-term asset performance to support Panamint Capital’s large-scale solar development at Twin Oaks.

How is First Solar (NASDAQ: FSLR) involved in Panamint Capital’s Big Rooter Power project?

First Solar will manufacture approximately 2 million solar panels in Ohio, Louisiana, and Alabama for Big Rooter West and East. According to First Solar, this supports a U.S.-based supply chain for Panamint Capital’s large Texas solar installation using domestically produced modules.

What contribution does Nextpower (NASDAQ: NXT) make to the Big Rooter solar facility?

Nextpower will supply its NX Horizon solar tracker systems plus Hail Pro-75 and NX Navigator software for Big Rooter. According to Nextpower, these technologies are intended to enhance performance and reliability across varying weather conditions at Panamint Capital’s Twin Oaks energy site.

Does Panamint Capital have a power purchase agreement for Big Rooter Power?

Panamint Capital states it has a long-term power purchase agreement with one of the country’s largest companies. According to Panamint Capital, this agreement is expected to support job-creating electricity demand in the American economy into the 2050s.