Occidental Starts Up Solar Facility for Oil Operations

Date : 10/03/2019 @ 8:01PM
Source : Dow Jones News
Stock : Occidental Petroleum Corporation (OXY)
Quote : 12.77  0.0 (0.00%) @ 9:39AM
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Occidental Starts Up Solar Facility for Oil Operations

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By Michael Dabaie

 

Occidental Petroleum Corp. (OXY) said it started up its first solar facility to directly power an enhanced oil recovery field operation in the Permian Basin.

The company also signed a long-term power purchase agreement for 109 MW of solar energy, beginning in 2021, for use in its Permian operations.

The Goldsmith field solar facility, built by Occidental near Odessa, Texas, features 174,000 photovoltaic panels with a total capacity of 16 MW -- enough to power the operations at the Goldsmith field. First Solar manufactured the photovoltaic panels and is under contract to operate the facility, Occidental said.

Occidental said it signed a 12-year solar power purchase agreement with a joint venture between Macquarie's Green Investment Group and Core Solar LLC, whose solar project in West Texas will be operational in 2021.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

October 03, 2019 14:46 ET (18:46 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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