PPA and expansion of 450MW onshore wind project in USA

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
PPA and expansion of 450MW onshore wind project in USA

Enel, through its US renewable subsidiary Enel Green Power North America, Inc. (“EGPNA”), has started operations of its 450 MW High Lonesome wind farm in Upton and Crockett Counties, in Texas, the largest operational wind project in the Group’s global renewable portfolio.

Enel also signed a 12-year, renewable energy power purchase agreement (PPA) with food and beverage company Danone North America, for physical delivery of the renewable electricity associated with 20.6 MW, leading to an additional 50 MW expansion of High Lonesome that will increase the plant’s total capacity to 500 MW. The construction of the 50 MW expansion is currently underway and operations are due to start in the first quarter of 2020.

The agreement between Enel and Danone North America will support the food and beverage company’s commitment to securing 100% of its purchased electricity from renewable sources by 2030.

In addition, the energy produced by a 295 MW portion of the project will be hedged under a Proxy Revenue Swap (PRS) with insurer Allianz Global Corporate & Specialty, Inc.'s Alternative Risk Transfer unit (Allianz), and Nephila Climate, a provider of weather and climate risk management products. The PRS is a financial derivative agreement designed to produce stable revenues for the project regardless of power price fluctuations and weather-driven intermittency, hedging the project from this kind of risk in addition to that associated with price and volume.

Under the PRS agreement, High Lonesome will receive fixed payments based on the expected value of future energy production, with adjustments paid depending on how the realized proxy revenue of the project differs from the fixed payment. The PRS for High Lonesome, which is the largest by capacity for a single plant globally and the first agreement of its kind for Enel, was executed in collaboration with REsurety, Inc.

The investment in the construction of the 500 MW plant amounts to around 720 million US dollars. The wind farm is due to generate around 1.9 TWh annually, while avoiding the emission of more than 1.2 million tons of CO2 per year.

List of country news

Country news

  • December 24, 2019

    CIP acquires 800 MW onshore wind project in USA

    Tri Global Energy, a leading originator and developer of utility-scale renewable energy projects, announced the sale of an Illinois wind energy project, Woodford Wind Energy, to Copenhagen Infrastructure Partners (CIP), the Denmark-based renewable energy specialist focused on clean energy infrastructure.

    Read more
  • December 19, 2019

    Acquisition of 278 MW of US solar projects completed

    EDP Renewables and ConnectGen have completed the acquisition of First Solar's three projects with a total nameplate design of 278 megawatts (MW)AC in the United States. First Solar previously disclosed that the sale of these projects was subject to certain conditions precedent for closing that have since been satisfied.

    Read more
  • December 18, 2019

    812 MW wind portfolio in USA and Canada acquisition closes 

    Gulf Pacific Power, LLC (GPP) has completed the acquisition of an 80% stake in EGPNA Renewable Energy Holdings, LLC (REP), a holding company that owns an 812 MW portfolio of five operating wind projects located in the United States and Canada. GPP formed Gulf Plains Wind, LLC (Gulf Plains Wind) to acquire the interest in REP from GE Energy Financial Services and Enel Green Power North America, Inc. (EGPNA). EGPNA has retained a 20% stake in REP and will continue to operate the Portfolio. Financial terms of the transaction were not disclosed.

     

     

    Read more
  • December 12, 2019

    PPA approved for $1bn solar and storage project in USA

    Quinbrook Infrastructure Partners ("Quinbrook"), a global investment manager focused exclusively on lower carbon and renewable energy infrastructure investment and operational asset management, announced that the Public Utilities Commission of Nevada (“PUCN”) has granted approval of Quinbrook’s 25-year Power Purchase Agreement with NV Energy for the 690 MW AC Gemini Solar + Battery Storage Project (“Gemini”) in Clark County, Nevada.

     

    Read more
  • November 27, 2019

    16 GW subsea transmission network in planning in USA

    Anbaric has filed an application with the Bureau of Ocean Energy Management (BOEM) for non-exclusive rights-of-way to develop the Southern New England OceanGrid – an independent, open-access offshore transmission system designed to maximize the region’s offshore wind resources. Once approved by BOEM, the transmission network on the outer continental shelf would link the existing wind lease areas via a common system and deliver that power to the on-shore grid. Benefits will include greater efficiency, more reliability, fewer environmental impacts, and the ability to direct the energy to specific areas, like Boston and/or the South Coast.

     

    Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.