Idaho Power procures solar for 2.2 cents per kWh and plans to go 100% renewables

Latest

Facebook
Twitter
LinkedIn
Reddit
Email

Idaho Power has signed a power purchase agreement (PPA) at a price of 2.2 cents per kWh. The utility has also pledged to switch to 100% renewables by 2045.

The PPA for a 120MW solar project is initially priced lower than Saudi Arabia’s Sakaka project. A potential increase in the plant’s capacity would trigger a “slightly” higher price.

There are some mitigating circumstances behind the eye-catching price.

The project will utilise the grid connection vacated by the North Valmy coal power plant, which is scheduled for a phased retirement starting this year.

The solar project is also scheduled for operation in 2022. Component prices can be reasonably expected to fall between now and then. A sub-three cents project will be completed later this year in Arizona. 

Speaking about the wider objective of switching entirely to renewables, Idaho Power’s president and CEO Darrel Anderson said:

“Providing 100% clean energy is an important goal for Idaho Power. More and more customers are telling us it is important to them, too. We believe this goal is attainable. We have a great head start, thanks to our clean hydropower plants that produce almost half the energy our customers use. Our recently signed agreement with Jackpot Holdings moves us even closer.”

Source: SunEdison.
3 May 2023
Large Scale Solar Summit is coming back to the US after a sell-out year in 2022! Designed as a meeting place for deal-making, we will not only discuss the most up to date topics and technologies but will also provide varied networking platforms so that developers, EPCs, manufacturers, asset owners, and investors can connect with possible clients and partners. Join us in Texas to meet with the top players in the industry and expand your network as business booms.
6 June 2023
Join us in Napa to unlock the key to reliable PV module supply to the U.S. market in 2023 & 2024. We'll also be gathering the main players in the US solar market for some wine tasting!

Read Next

Subscribe to Newsletter

Most Read

Upcoming Events