Renewables New Solar Project Signs Record Low PPA 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. Kevin Clark 2.1.2018 Share 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.” Related Articles Michigan regulators reject Consumers Energy proposal to exit biomass plant PPAs early Quaise Energy raises $21 million for terawatt-scale ‘deep’ geothermal Utah solar+battery project to quadruple storage capacity Wind at their backs: Vineyard Wind 1, Empire Wind hit key milestones
