By Investing US$673 Mil.
Samsung C&T is considering investing US$673 million to build solar power plants with a combined operating capacity of about 700 megawatts in Texas, Reuters reported on April 24 (local time).
The planned power plant will be built in Milam County, which is within two hours by car from Samsung Electronics' Austin Semiconductor foundry. Samsung Electronics is currently considering building an additional plant in Austin by investing US$17 billion.
Four independent school districts (ISDs) in Milam County recently approved separate incentive agreements with Ben Milam Solar 1, 2, 3 LLC, a subsidiary of Samsung C&T, on April 19. The agreements cover the employment of workers for the construction of power plants.
Ground will be broken in June next year with commercial operations scheduled to start in December 2023.
Samsung C&T's trading division is pushing to expand its renewable energy business. It is strengthening its business in North America based on its successful execution of a renewable power generation project in Ontario, Canada,
Meanwhile, U.S. President Biden is pushing to ensure that all electric power is produced from sources that do not emit carbon such as nuclear power or renewable energy in the United States by 2035.