Bank OZK Breaks Ground on Solar Power Plant in Arkansas
Bank OZK (Nasdaq: OZK) has commenced construction of a $6 million solar power plant in Arkansas, marking a significant step in its sustainable energy initiative.
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Rhea-AI Summary
Bank OZK (Nasdaq: OZK) has commenced construction of a $6 million solar power plant in Arkansas, marking a significant step in its sustainable energy initiative. The 4.8-megawatt facility will supply power to the Bank's new headquarters and 40 locations across the state, positioning it as the largest renewable investment by a financial services firm in Arkansas. Expected to generate over 8.1 million kilowatt-hours annually, this project aims to reduce the Bank's carbon footprint by 160,000 tons over the next 30 years.
Positive
- Investment of $6 million in a solar power plant enhances sustainability efforts.
- The facility will generate over 8.1 million kilowatt-hours annually.
- Reduces carbon footprint by 160,000 tons over 30 years.
- Positioning as the largest renewable energy investment by a financial services company in Arkansas.
Negative
- None.
Details
News Market Reaction – OZK
The recorded move for OZK in the trading session of this news was +2.70%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
LITTLE ROCK, Ark., June 03, 2021 (GLOBE NEWSWIRE) -- As part of its sustainable energy initiative, Bank OZK (Nasdaq: OZK) (the “Bank”) broke ground today on its Arkansas-based
“An industry innovator, Bank OZK has a bold vision for the future, which includes a strong commitment to sustainable and clean energy,” said Tim Hicks, Chief Credit and Administrative Officer at Bank OZK. “This solar power plant will allow us to reduce our carbon footprint by 160,000 tons over the next 30 years.”
The Arkansas Public Service Commission and Federal Deposit Insurance Corporation approved the Bank’s plans for the solar power plant in March 2021. Scenic Hill Solar, LLC, of North Little Rock, Arkansas, will oversee construction of the 11,000-panel, single-axis array. The facility is expected to generate more than 8.1 million kilowatt-hours annually. Located in Stuttgart, Arkansas, it will be the state’s third-largest commercial solar facility dedicated to a private sector customer.
GENERAL INFORMATION
Bank OZK (Nasdaq: OZK) is a regional bank providing innovative financial solutions delivered by expert bankers with a relentless pursuit of excellence. Established in 1903, Bank OZK conducts banking operations through more than 250 offices in eight states including Arkansas, Georgia, Florida, North Carolina, Texas, New York, California and Mississippi and had
The Bank files annual, quarterly and current reports, proxy materials, and other information required by the Securities Exchange Act of 1934 with the Federal Deposit Insurance Corporation (“FDIC”), copies of which are available electronically at the FDIC’s website at https://efr.fdic.gov/fcxweb/efr/index.html and are also available on the Bank’s investor relations website at ir.ozk.com. To receive automated email alerts for these materials please visit https://ir.ozk.com/other/email-notification/default.aspx to sign up.
Investor Relations Contact: Tim Hicks, 501-978-2336
Media Contact: Susan Blair | susan.blair@ozk.com | 501-978-2217
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/50315783-e9bd-48d9-a66a-26b1b50a9ff2
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