US based power generation and transmission cooperative Hoosier Energy Rural Electric Cooperative has committed to receiving clean power from a 150 MW solar power plant in Knox County, Indiana under a power purchase agreement (PPA) signed with the Clean Energy Infrastructure (CEI) business of global private asset manager Capital Dynamics.
Under the terms of agreement reached, clean power generated by the CEI owned greenfield Ratts 2 Solar Project will be sold to Hoosier Energy on a long-term basis though the official announcement does not specify the duration of the deal.
Currently, Capital Dynamics affiliate Averon Energy Management and privately held energy company Tenaska are co-developing the project that's expected to enter construction stage in 2022 with scheduled commercial operations in 2023. The partners see the project contributing meaningfully to the economic prospects of the region.
Hoosier Energy plans to retire its 1.07 GW Merom Coal Power Station in 2023 and transition to a diverse generation mix including a combination of solar, wind, natural gas and storage, with an aim to lower its carbon footprint by close to 80%, as part of its new 20-year resource plan approved by the company's board of directors in January 2021. For the site of the coal power plant, it will consider renewable energy generation or go in for sale of the plant.
Previously in April 2018, EDP Renewables entered a PPA with Hoosier Energy for the 200 MW Riverstart Solar Park in Randolph County, Indiana (see PPA Signed For 200 MW US PV Project).
.png?w=50&fm=png){kind=logo}