Bank OZK broke ground Thursday on its $6 million solar power plant.
Once complete, the 4.8-megawatt array in Stuttgart will produce enough electricity to power its new headquarters in Little Rock and up to 40 other Bank OZK locations throughout the state.
Scenic Hill Solar LLC of North Little Rock will oversee construction of the 11,000-panel, single-axis array that is expected to generate more than 8.1 million kilowatt-hours annually.
The bank said this represents the largest renewable energy investment by a financial services company in Arkansas and will be the state’s third-largest commercial solar facility dedicated to a private sector customer.
“An industry innovator, Bank OZK has a bold vision for the future, which includes a strong commitment to sustainable and clean energy,” Tim Hicks, chief credit and administrative officer, said in a news release. “This solar power plant will allow us to reduce our carbon footprint by 160,000 tons over the next 30 years.”
The Arkansas Public Service Commission and Federal Deposit Insurance Corp. approved the bank’s plans for the solar power plant in March 2021.