Lightsource bp Signs Power Contract For 153 MW Solar Project In Texas
January 7, 2021 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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Lightsource bp announced that it has secured a proxy generation power purchase agreement (pgPPA) with the Capital Solutions unit of Allianz Global Corporate & Specialty (AGCS), in partnership with Nephila Climate, for electricity generated by Lightsource bp’s 153 megawatt Briar Creek solar farm, located in Navarro County, Texas.
Lightsource bp said, "A pgPPA is an innovative renewable energy contract structure intended to manage weather related risk. A pgPPA is similar to a virtual PPA, except it settles energy on a proxy generation index rather than the metered generation. Proxy generation is an hourly index that specifies the volume of energy that a project would have produced if it had been operated as specified by the developer or owner."
The Briar Creek solar farm, located about 40 miles south of Dallas, is expected to start commercial operation at the end of 2021.