$650M Solar Power Plant Investment Planned in Illinois

Plans for a new solar power plant have revealed that Pulaski County, Illinois, is poised for a potential economic boom. Pulaski Solar, LLC, and Vistra Corp. have outlined their intentions to invest $650 million in the county with the construction of a 405-megawatt utility-scale solar power plant.

Vistra, a Texas-based company, expects this project to generate $117 million in earnings for state workers and contribute an estimated $57 million in new property taxes to local governments. The details were released via the renewillinoispower.com website, which also highlighted that over 1,300 full-time jobs would be created across Illinois during the building phase of this ambitious project.

The proposed plan projects substantial financial benefits for various school districts and county entities over its 25-year lifespan. Century Unit School District 100 stands to gain $26.7 million, while Pulaski County could receive around $23.5 million. Shawnee Community College Community District #531 might see an injection of at least $4.8 million, with another possible contribution towards County Unit Road amounting to about $1.3 million.

The proposal will be formally presented by Pulaski Solar LLC and Vistra Corp., who are also slated as developers and operators of the project, before the Pulaski County Board on April 9th–10th at Shawnee Community College Auditorium.

Meranda Cohn, spokesperson for Vistra, expressed her thoughts: "Projects like these require significant diligence; gaining local approval marks one final step towards realizing our vision."

She further elaborated that each site's unique characteristics are taken into consideration while planning redevelopment post-coal-fueled generation retirement phases rather than applying a universal approach everywhere, which reflects their creative strategy behind developing Pulaski Solar using pre-existing infrastructure at a retired EEI-Joppa power plant facility.

A fiscal impact study reveals that the land housing the solar power plant currently has a tax bill of $62,056. However, upon its first year of operation, Pulaski Solar is projected to generate $3.2 million in taxes—a staggering increase of 5090%. The total county-wide assessed property value will also see an upward trend of about 75% following Pulaski Solar's inaugural operational year.

An economic impact assessment compiled by Dr. David Loomis from Strategic Economic Research LLC outlines immense benefits for both regions and states with this project’s completion.
 
The construction would lead to the creation of around 1,331 full-time jobs across Illinois while contributing approximately $117 million in earnings for local workers and adding close to $185 million towards the state's economic output.

On November 17th, 2023, Vistra Corp. submitted an application seeking approval to construct a solar power plant capable of producing up to 405 megawatts (MW). If approved, property owners will lease acreage for the development and operation of Pulaski Solar.

A proposed transmission line connecting Pulaski Solar with Vistra's retired EEI-Joppa power plant is part of the plan, where it will interconnect with the grid at an estimated cost of around $650 million.
 
Pulaski County, along with third-party experts, are reviewing their application as well as how this new venture aligns with existing state and local standards. The county board is expected to formally consider this project later in the spring.