Port Authority approves solar panels for 2 local businesses

Toledo, OH The entire project is expected to cost up to $19 million. $12 million is slated for Libbey and $7 million for GM Powertrain. This morning the Port Authority approved financing for part of the project.

"These kind of projects fit well in any business planning for energy and transforming the way they use energy." said Kevin Moyer.

Both businesses have a 20 year power agreement, which means they are locked into a fixed rate for that period of time. This project will also create jobs in northwest Ohio. Local contractors will be installing and maintaining the solar panels for this major project.

Paul Toth says, "Projects like this take a long time to structure and develop but we've got the tools in place to be able to make it a reality and we're going to continue doing that for the community." Toth is hopeful the panels will be up and running by the end of the year.