Lightsource BP signs PPA deal with Allianz Global for 153 MW Briar Creek solar project

Lightsource BP has signed a proxy generation power purchase agreement (pgPPA) with the Capital Solutions unit of Allianz Global Corporate & Specialty (AGCS), in partnership with Nephilia Climate, for the output of the 153 MW Briar Creek solar photovoltaic project in Texas.

The proxy generation PPA is an innovative way to structure the power output that intends to manage the risk from weather-related incidences. The deal is similar to virtual PPA except it settles energy on proxy generation index rather than the metered generation. 

During the contract, REsurety Inc will serve as the calculation agent to realize the deal. 

The project will be built in Navarro County, about 40 miles from Dallas in Texas.