7X Energy signs final PPA for 690MW solar project in Texas
7X Energy has secured a second power purchase agreement (PPA) for the remaining power of its 690 MW Taygete solar park located in Pecos County, Texas. The first PPA for Phase I was announced in late February. The news of PPA being secured now for the whole project means the construction will begin in the near future.
Under PPA the generated electricity will be purchased by two large undisclosed entities in SolarBlocks, a product offered by 7X Energy.
The project involves the development of a 690 MW Taygete solar photovoltaic project located in Pecos County, Texas, USA.
The project will be built in two phases. The two phases are nearly identical in capacity, with Phase 1 coming in at 254 MWac and Phase 2 following with 256 MWac. The construction of Phase 1 will start in Q3 of 2019 and will be completed by the Q1 of 2021. The construction of Phase 2 is scheduled to begin in Q1 of 2020 and become operational in Q2 of 2021.
The solar park will be the largest solar facility in Texas and the fifth largest photovoltaic site in the USA.
The Taygete solar PV project represents a capital investment in Texas of over US$650 million and during the peak construction period is expected to provide nearly 500 jobs.
The CEO of 7X said: ¨Taygete is a fantastic project and an example of how 7X is leading the energy transition. Big solar is a win-win for Texas, serving as an economic boost to agriculture, jobs, and infrastructure while cutting electricity costs for buyers.¨
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