Texas-Based Broker-Consultant Selected By E&P Company For Solar Facility & Electrification Of Texas Operations

Priority Power Management, LLC announced that it has entered into agreements with HighPeak Energy, Inc., an independent oil and natural gas company engaged in the acquisition, development, and production of oil, natural gas, and NGL reserves, to electrify and power HighPeak’s drilling and operations partially with renewable solar powered energy.

Priority Power will develop an electric high-voltage ('EHV') substation, medium voltage distribution systems and a 13-megawatt direct current solar photovoltaic facility located on 80 acres of HighPeak’s owned surfaceland north of Big Spring, Texas in Howard County, collectively the 'Project Facility,' to provide HighPeak’s electrical power needs for its drilling activity and operations in its Flat Top area. The EHV substation will be interconnected with the ERCOT transmission grid via the local electric utility, have an initial capacity of up to 50 MVA and be designed for future expansion capability. The solar generation facility will be interconnected with HighPeak’s medium voltage distribution system that is energized from the new EHV substation, behind the utility meter.

Priority Power will develop, finance, engineer, construct, operate, and maintain the Project Facility. Priority Power will integrate and manage HighPeak’s existing and future electricity supply agreements with the solar powered energy generated from the solar generation facility.

Over the life of the contract, approximately 263 million kilowatt-hours of solar energy will be delivered to HighPeak