Nearly $32 million awarded for a large-scale solar project in Arkansas

LITTLE ROCK, Ark. (AP) — A solar project benefitting the University of Arkansas system is receiving nearly $32 million in pre-construction financing. Climate United on Tuesday announced the financing was being awarded to Scenic Hill Solar for the project. The funding is Climate United’s first investment from nearly $7 billion it received from a fund that was created by the Inflation Reduction Act passed in 2022. The group said the project will be the largest commercial and industrial solar deployment in Arkansas’ history. UA is expected to save more than $120 million in energy costs over the next 25 years through the project.