Work on a long-awaited solar power plant for Bank OZK has begun.
The Little Rock-based bank broke ground on its 4.8-megwatt solar array on Thursday, June 3. This project, which represents a $6 million investment, will be located in Stuttgart and is the third-largest commercial solar facility in Arkansas.
First announced in December 2019, the both the Arkansas Public Service Commission and the Federal Deposit Insurance Corporation approved the project in March 2021.
“An industry innovator, Bank OZK has a bold vision for the future, which includes a strong commitment to sustainable and clean energy,” Bank OZk chief credit and administrative officer Tim Hicks said in a statement. “This solar power plant will allow us to reduce our carbon footprint by 160,000 tons over the next 30 years.”
The 11,000-panel, single-axis solar array is projected to generate approximately 8.1 million kilowatt-hours of electricity each year – enough to power Bank OZK’s Little Rock corporate headquarters and 40 Arkansas Bank OZK locations.
Scenic Hill Solar of North Little Rock will be developing and overseeing the construction of the solar array.