Nashville-based Silicon Ranch Corp., the solar energy venture chaired by former Gov. Phil Bredsen and run by former state commissioners Matt Kisber and Reagan Farr, has struck a deal with aerospace and defense products manufacturer Aerojet Rocketdyne and two utilities to build a 12-megawatt installation near Aerojet's plant in Camden, Arkansas.
The 100-acre project, which will primarily feed Aerojet's rocket motor and warhead manufacturing operations in Camden, is expected to be up and running late this year.
"We are excited to partner with Aerojet Rocketdyne in developing the first, large-scale solar project in Arkansas," said Matt Kisber, president and CEO of Silicon Ranch. "This would not be possible without the participation and support of AECC and OECC. We believe this clean-energy investment will spur positive economic, environmental and social advantages for the region."
Community First Bancshares, the parent company of First State Bank, said Tuesday afternoon it will sell to an Arkansas holding company in a $243 million deal that will create a company with $6.8 billion in assets and operations from Kansas to Knoxville. First State runs eight Middle Tennessee branches — although only one (on West End Avenue) is located in the heart of Nashville — that have been among the company's main growth drivers.
The acquisition by Simmons First National Corp. (Ticker: SFNC) is expected to close late this year, but Simmons Chairman and CEO George Makris says his team doesn't expect to be changing signs anytime soon.
Some refining and transportation subsidiaries of Delek US Holdings have added three years to the crude oil supply and offtake agreement they have with J. Aron & Co., the commodities brokerage owned by Goldman Sachs. J. Aron will continue to supply crude to Delek's El Dorado, Ark., refinery and be the first-in-line buyer for refined products. The companies' new deal extends until April of 2017.
Officials with the Environmental Protection Agency and Delek US Holdings have been busy in recent days cleaning up about 5,000 barrels of oil that have spilled from a pipeline into the Little Cornie Bayou in southern Arkansas. Bloomberg reports that about a fifth of the spill still needs to be gathered and that Delek execs don't expect a major financial impact.
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