Monarch and Elawan Energy Complete Two Renewable Energy Projects

Monarch Private Capital, a nationally recognized impact investment firm that develops, finances, and manages a diversified portfolio of projects generating both federal and state tax credits, and Elawan Energy, a global operator in the renewable energy industry, are pleased to announce the substantial completion of two utility-scale solar projects in Q4 2023. The projects, located in Hill County and Bosque County, Texas, mark a significant milestone in the companies' commitment to clean energy and sustainability.

The projects include Pitts Dudik, which boasts a capacity of 60.26 MWdc, and Dileo, which contributes an additional 86.67 MWdc. Together, these projects represent a total capacity of approximately 147 MWdc, providing clean and renewable energy to the region.

"We’re proud to have joined forces with Elawan Energy on these strategically-sited solar projects," said Bryan Didier, Partner & Managing Director of Renewable Energy at Monarch. "Pitts Dudik and Dileo are great examples of tax credit equity investments. Not only are they accelerating the energy transition to sustainable resources, but they are also fostering economic growth, job creation and innovation in their Texas communities."

The positive impacts of these projects extend beyond clean energy generation. Over the next 40 years, the projects are expected to abate 4,688,232 CO2e MT, equivalent to the greenhouse gas emissions from over a million gasoline-powered passenger vehicles driven for one year, and will create nearly 600 jobs.

“Delighted to announce the completion of two solar projects in partnership with Monarch, bringing clean and renewable energy to Hill and Bosque counties,” said Gonzalo Rodriguez Tortosa, Business Development Officer and Chief Operating Officer at Elawan Energy North America. “We want to thank both counties for their continued support and are very happy that the projects will have a positive impact on the local communities, helping not only from an economic perspective but also in the reduction of greenhouse gas emissions.”