TWIA Commercial Property & Casualty
Bechtel wins $453M Michigan solar project
Sep
Chicago-based renewable power provider Hecate Energy has selected Reston, Virginia, construction giant Bechtel to build Sunfish Solar 2, the first project in Hecate’s 1-gigawatt development in Calhoun County, Michigan, according to a Sept. 11 news release from the firm.
Consumers Energy, a residential power company working with Hecate on the project, estimates the total installed capital cost of the Sunfish Solar 2 is $453 million, per a document filed with the state of Michigan. The project will be built on 1,300 acres, according to the release.
When completed in 2026, Sunfish Solar 2 will be one of the largest solar facilities in the state, according to the release. It will generate enough energy to power about 183,500 Michigan homes, and offset nearly 1.5-million tons of carbon dioxide emissions annually — the equivalent of removing more than 300,000 passenger vehicles from the road each year.
The announcement followed the high-profile presidential debate between Vice President Kamala Harris and former President Donald Trump on Sept. 10, where Trump said that he was “a big fan of solar,” but also asserted the amount of land solar farms use was a drawback.
Solar and clean energy stocks rose following the debate. According to CNBC, investors have been nervous that Trump would weaken or repeal the Inflation Reduction Act — which incentivizes solar investment — if Republicans sweep the White House and Congress, while a Harris administration is expected to leave the law largely unchanged.
Bechtel claims Sunfish Solar 2 will play a crucial role in supporting Michigan’s commitment to generating half of its energy from renewable sources by 2030. Solar is growing across the country: In the first quarter 2024, U.S. solar installations grew 79% year over year, to a record 11.8 gigawatts, according to Reuters.
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