HASWELL, Colo.--(BUSINESS WIRE)--Crossroads Agriculture, a leading agricultural company, has announced its plans to support construction of more than one gigawatt of photovoltaic solar energy on Crossroads farmland on the Eastern Plains of Colorado.
The planned projects would span more than 7,500 acres of Crossroads farmland near Haswell and Cheyenne Wells, Colorado.
Crossroads Agriculture has entered into an agreement with a subsidiary of NextEra Energy Resources, LLC, to develop solar projects on land owned by Crossroads. NextEra Energy Resources is the world’s largest generator of renewable energy from the wind and sun, and a world leader in battery storage.
The Eastern Plains are known for their abundant sunshine. Solar installations can operate for approximately 30 years, which allows the farmland and groundwater aquifer below to rest and regenerate.
“The planned solar projects are another major step in our commitment to renewable energy. We already have more than 30 wind turbines operating in New Mexico, with another 40 to be built in 2024 on Crossroads ground in Colorado, with hundreds more anticipated in the years to come,” said Stefan Soloviev, chairman of Crossroads Agriculture, which is part of the Soloviev Group.
“We are pleased to be a part of Colorado’s efforts to have 80% of the state’s energy come from renewable sources by 2030. The state is really one of the nation’s leaders in its commitment to renewables,” he added.
Financial terms were not disclosed, but the cost of electricity is expected to be considerably less than that from the coal-fired plants they are replacing. Producing one gigawatt of energy is enough to power approximately 250,000 homes.
ABOUT CROSSROADS AGRICULTURE
For more than two decades, Crossroads Agriculture has been at the forefront of sustainable and efficient farming practices. We are on the ground and in the fields, operating from locally based headquarters in Kansas, Colorado, and New Mexico across more than 500,000 acres of land. Through our partnerships with area farmers, we harvest more than 1 million bushels of both wheat and milo annually for domestic sales and international export.
Crossroads Agriculture is part of the Soloviev Group. The Soloviev Group is the holding company for several businesses operated by Stefan Soloviev. (For more information see: LEADERS Interview with Stefan Soloviev, Chairman, Soloviev Group (leadersmag.com.)). The Soloviev Group encompasses divisions that include, but are not limited to, Realty and Development, in addition to Hospitality, Transportation & Railroad, and Agriculture & Ranching divisions.