HighPeak Energy, Inc. and Priority Power Announce Commissioning of WildHorse Solar Farm

Core Insights - HighPeak Energy has launched the WildHorse Solar Farm, a 9.9 MW solar facility aimed at reducing greenhouse gas emissions and lowering operational costs [1][2][4]. Company Overview - HighPeak Energy, Inc. is an independent oil and natural gas company based in Fort Worth, Texas, focusing on unconventional crude oil and natural gas reserves in the Midland Basin [6]. Project Details - The WildHorse Solar Farm will generate 26,806 MWs of electricity annually, sufficient to power nearly 3,700 homes, while reducing over 18 million metric tons of carbon dioxide emissions [2]. - The project is designed to minimize capital costs for shareholders, as it is developed and operated by Priority Power Management [4]. Market Context - Power prices in Texas are expected to rise significantly over the next decade, with competition among various energy users intensifying [3]. - The value of power has already increased by $100 million for 100 megawatts over the next 10 years, indicating a trend of escalating energy costs [3]. Environmental Commitment - HighPeak Energy emphasizes its commitment to environmental stewardship through the development of renewable energy infrastructure, which will also help in reducing operational expenses [5].