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The current developer is Recurrent Energy, LLC, a division of Canadian Solar. CIT Group arranged for financing of $162 million of the $234 million project, which finally broke ground in July 2020. Austin Energy will buy electricity generated by the project under the terms of a 15-year power purchase agreement (PPA). [3] [4]
A power purchase agreement (PPA), or electricity power agreement, is a long-term contract between an electricity generator and a customer, usually a utility, government or company. [ 1 ] [ 2 ] PPAs may last anywhere between 5 and 20 years, during which time the power purchaser buys energy at a pre-negotiated price.
Texas has the potential to generate 22,787 TWh/year, more than any other state, from 7.743 TW of concentrated solar power plants, using 34% of Texas, [32] and 131.2 TWh/year from 97.8 GW of rooftop photovoltaic panels, 34.6% of the electricity used in the state in 2013. [33]
Texas electricity generation by type, 2001-2024. This is a list of electricity-generating power stations in the U.S. state of Texas, sorted by type and name.In 2022, Texas had a total summer capacity of 148,900 MW through all of its power plants, and a net generation of 525,562 GWh. [2]
“Simply put, it’s not always windy and not always sunny, but it’s almost always windy or sunny somewhere in Texas.”
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