New Solar Project Signs Record Low PPA

Solar india gujurat

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.”

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...