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.”
Following the successful launch of Energy Storage Summit USA, we are pleased to announce its return for a 2nd year. Renowned for its quality, breadth and expertise, this event features an all-encompassing range of strategic and technical sessions on the adoption and deployment of storage. Key market drivers such as the falling price of lithium-ion batteries, investment in electric vehicle infrastructure, FERC Order 841, government incentives, grid modernization, transition from dependency on the networks to a desire for autonomy and intermittent renewable sources, all add to an exciting time for the Energy Storage value chain.
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