AES Ribbon Cutting

News release – Oak Ridge Solar, Morehouse Parish

On December 7th , AES Corporation held a Ribbon Cutting for Oak Ridge Solar and provided site tours to local stakeholders. This facility is currently the largest solar development in north Louisiana. It is a first for Morehouse Parish. The 1400-acre, 200-megawatt (MW) solar energy project is on about 2,200 acres of privately owned land in southern Morehouse Parish.

Kay King, CEO of Morehouse Economic Development, reports the local impact has been tremendous, and the parish is expecting a one-time payment totaling six million dollars in use and sales taxes from the project. In addition, King estimates the current property tax will be approximately fifty-five to sixty times the current tax revenue produced by the property. Bastrop and our parish have been extremely busy over the last year, but the total impact on the City of Bastrop and our region is difficult to measure. AES used goods and services as much as possible from businesses throughout the parish and region during construction.

Police Jury President Terry Matthews praises AES’s contribution to the parish. This project has not required any investment by the parish. It is refreshing to find companies willing to make this significant investment in rural northeast Louisiana.

The project will generate 470,000 MWh annually, enough clean energy to power 35,000 homes. At the event, King recognized the team effort in the parish for supporting this project. Local Taxing bodies, the Industrial Development Board, and Morehouse Economic Development worked with AES for over four years to make this project a reality.

The AES Corporation (NYSE: AES) is a Fortune 500 global power company committed to delivering greener, smarter energy solutions to the world’s needs.