The post TECO Announces $ 800-Million Investment in New Solar appeared first on POWER Magazine.

Tampa Electric Co. (TECO) on Feb. 19 said it plans to invest about $ 800 million to add another 600 MW of solar power generation capacity by year-end 2023. TECO on Wednesday said the expansion will increase its solar portfolio to more than 1.25 GW of solar generation, or about 14% of its total generation mix.

“Our customers want a cleaner energy future for themselves, and their children,” said Nancy Tower, TECO’s president and CEO, in a statement. “We are committed to continue to lead Tampa Electric toward cleaner energy while ensuring our prices remain affordable for customers.”

A Gas-Heavy Portfolio

TECO, like many U.S. utilities, is increasing its use of renewable resources as it phases out coal-fired generation. The company, which serves customers in west-central Florida, said it has cut its coal use by 92% since 2000. About 84% of its electricity comes from natural gas.…

Read More »