TVA announces plan to double solar energy capacity
On Wednesday, the Tennessee Valley Authority (TVA) Board of Directors outlined its plan to double its solar energy capacity as it celebrated its 90th anniversary.
As a way to address the region’s record-growing demand, the TVA said it would continue to aggressively invest in current electric generation sources, while building new ones. As part of its solar plan, the agency said it would be moving forward with building 6,000 megawatts of solar energy and energy storage, more than double its current solar capacity.
“TVA’s mission of service is just as important today as it was 90 years ago,” TVA President and CEO Jeff Lyash said. “We were created as an innovation company, and we will use that same innovative spirit and mission of service as we address today’s challenges. Our region is experiencing growth at six times the national average, which means we must invest in our current power system and build new generation so we can continue meeting our region’s demand.”
The agency said it had invested $18 billion in capacity expansion and capital since 2014, and will invest another $2.8 billion in transmission upgrades through 2027. That investment includes about 3,800 megawatts of new generation including combustion turbines, solar projects, combined-cycle natural gas and energy storage, as well as a planned investment into a new state-of-the-art Primary System Operations Center.
“There is no one answer to achieving our region’s and nation’s clean energy goals,” said Lyash. “We are committed to developing potential pathways to a clean energy future. We must rapidly expand our clean energy resources such as solar, new nuclear, and pumped storage – and we are moving aggressively, including potentially doubling our solar energy capacity.”
TVA said it expects to start awarding bids for its solar energy and energy storage projects within the next 60 days. In total, the company’s approximately 40 projects could start coming online by 2026, as part of its goal to add 10,000 megawatts of solar by 2035.
