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.”
PV Tech is hosting a TechTalk Product Series webinar with LONGi Solar to help PV project developers, asset owners and interested parties become aware of the latest in utility-scale PV panel technology, performance and size that is redefining LCOE metrics.
The UK and Ireland markets are seeing multi-GW of pipelines being planned for new utility-scale solar and energy storage during the next few years. These complementary sectors are starting to form new built portfolios for some of the leading global developers and long-term owners. This webinar - featuring presentations from Finlay Colville and Lauren Cook - will explain what is driving the uptick in new project planning, a breakdown of the pipelines by pre-build status, and which companies are behind the new projects.
Solar & Storage Finance USA, the only event that connects developers to capital and capital to solar and storage projects, will be back in November 2020 for its 7th edition!
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