June 1, 2024

HighPeak Energy & Priority Power Launch WildHorse Solar Farm in Texas

HighPeak Energy, a leading independent oil and natural gas company has recently completed and commissioned a new solar facility, the WildHorse Solar Farm, Texas. The WildHorse Solar Farm was developed and is owned and operated by Priority Power Management, a leader in the development of decarbonizing infrastructure.

The Project Features 9.9 MW Solar Farm

HighPeak Energy in collaboration with Priority Power commissioned a 9.9 MW WildHorse Solar Farm, located in the Flat Top, Texas region.  The project was developed and operated by Priority Power Management. Their tasks encompassed overseeing the interconnection process and providing comprehensive services for design, construction, and engineering, procurement, and construction (EPC) for the farm.

The 9.9 MW solar facility will generate 26,806 MWs of electricity annually, powering nearly 3,700 homes and result in a reduction of over 18 million metric tons of carbon dioxide emissions. This reduction is equivalent to removing 6,500 tons of landfill waste or safeguarding over 21,000 acres of forest land. This project demonstrates HighPeak's dedication to reducing greenhouse gas  emissions and utilizing renewable energy infrastructure to lower the expenses associated with powering HPK's operations.

The Solar Project Will Cut Power Costs

The WildHorse solar farm will help HighPeak Energy reduce power costs and protect against rising electricity prices, particularly during the summer.

The Chief Executive Officer of Priority Power, Brandon Schwertner said "Power prices across the State of Texas are forecasted to move drastically higher over the next decade. Every large energy user is competing for the next electron, including oil and gas operators, traditional businesses, hyperscale datacenters, and new energies such as hydrogen plants alike. Just this year, the value of 100 megawatts of power over the next 10 years has already increased by $100 million, and the pressure for further escalation remains."

Mike Hollis, President of HighPeak said, “Priority Power has been a pleasure to work with throughout this process. HighPeak constantly strives to be great stewards of the environment and this solar farm is both fiscally and environmentally beneficial for our shareholders and the local community. The 10 megawatts generated from this project will reduce our power costs, shield us from summer spot power price spikes and reduce our carbon footprint. HighPeak has been energizing our drilling rigs with grid power, and we are now drilling with power directly supplied by West Texas sunshine.

Partnership for Sustainable Energy Solutions

The collaboration between HighPeak Energy and Priority Power Management to establish the WildHorse Solar Farm in Texas is a significant step towards sustainable energy solutions. The 9.9 MW solar facility did not only showcase HighPeak's commitment to reducing greenhouse gas emissions but also highlights their dedication to incorporating renewable energy into their operations.

“This project exemplifies HighPeak’s commitment to being a sustainable operator while delivering shareholder value. At a time when power prices in Texas are very volatile, the WildHorse Solar Farm has the added benefit of reducing HighPeak’s operating expenses while providing clean, reliable power” said Danny Smedley, Managing Director and Vice President of Priority Power.

“Priority Power is tremendously proud of our partnership with HighPeak, and we look forward to continuing our relationship for many years to come.”

The project serves as a model for future endeavors aimed at mitigating carbon footprint and promoting the adoption of cleaner and more dependable energy sources. As renewable energy continues to gain traction, initiatives like the WildHorse Solar Farm pave the way for a greener and more sustainable future.

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