Chevron Selects Developer For 500 MW Of Renewable Generation At Its Properties, Includes Purchases Via PPAs
July 30, 2020 Email This Story Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Chevron U.S.A Inc. (CUSA), a wholly owned subsidiary of Chevron Corporation, and Algonquin Power & Utilities Corp. ("Algonquin") announced an agreement seeking to co-develop renewable power projects that will provide electricity to strategic assets across Chevron's global portfolio.
Under the four-year agreement, Chevron plans to generate more than 500 megawatts (MW) of its existing and future electricity demand from renewable sources.
Initial renewable power projects are expected to be sited on Chevron land and construction is planned to start in 2021.
The projects will be focused on powering Chevron's operations in the U.S. Permian Basin (TX and NM), Argentina, Kazakhstan and Western Australia. Projects will be jointly owned and co-developed by both parties. Algonquin will lead the design, development and construction of the projects. Chevron will purchase electricity from the jointly owned projects through power purchase agreements.