By Editors of Power Engineering
A power purchase agreement for an in-development solar project has netted what the Rocky Mountain Institute has called the lowest reported contract for distributed photovoltaic solar energy in the United States.
The 3-MW Carrizozo project, developed and owned in New Mexico by SoCore Energy, signed a contract with the Otero County Electric Cooperative for less than 4.5 cents per kWh. RMI provided project analysis and supported the competitive procurement process.
Carrizozo is expected to come online in March 2018. The project does not receive tax credits or subsidies.
“The Carrizozo solar project allows us to deliver renewable energy to our members while also saving them money,” Mario Romero, chief executive of Otero County Electric Cooperative, said. “Since OCEC purchases the energy produced by this project at such a great price, this project will allow all of our 14,000 members to benefit by reducing our overall cost of purchased power.”