Pure Energy Signs ERCOT Solar Agreement With RRE Power

Pure Energy LLC announced that it has entered into a binding agreement with RRE Power, LLC to facilitate and assist in the negotiation of a transaction agreement to potentially acquire 927 megawatts of utility scale solar projects in ERCOT.

The projects are scheduled to come online starting in March of 2020.

As part of the agreement, Pure Energy will introduce RRE Power to a proprietary network of projects and developers in ERCOT that Pure Energy has relationships with. The network includes 29,649 MWs and more than 45 developers of utility scale solar projects in ERCOT’s pipeline, and multiples of that in early to mid-stage development. Less than 3,000 of those MWs are in ERCOT’s North zone.

Preston Ochsner, Chief Executive Officer and Founder of Pure Energy, described the current market by saying: "Solar power prices are below $22/MWh today, but there is still a large gap between supply and demand. We have a corporate buyer looking for a 100 MW power purchase agreement in a specific zone that cannot find it."