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City of Philadelphia Enters 70-Megawatt Solar Power Purchase Agreement, Price Disclosed
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Community Energy Inc. today announced the approval of a 70-megawatt (MW) solar Power Purchase Agreement (PPA) in Adams County, Pennsylvania to power government facilities in Philadelphia, PA.
The solar farm, named Adams Solar LLC, will produce enough electricity to operate 22 percent of Philadelphia government buildings by 2020.
Adams Solar LLC will sell 100 percent of its power under a 20-year contract to the Philadelphia Energy Authority, an independent city agency. The project will generate 156,000 megawatt-hours (MWh) of energy in the first year of operation, Community Energy said
The Philadelphia Energy Authority said that, "Through the contract, the City will purchase electricity for 20 years at a fixed rate that is competitive with conventional electricity prices."
The contact includes a maximum price of $44.50/MWh for each hour of the Term, composed of the following:
• Electrical Energy: $38.00/MWh
• AEPS Credits: $5.00/MWh
• Cleared Capacity: $1.50/MWh during the applicable capacity
Delivery Year, starting with the first PJM auction, for which the Project is eligible to participate and for which the Project clears, until termination date of the Agreement.
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December 18, 2018
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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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