NRG and HECO reach new solar power purchase agreements, target 109.6 MWac of PV generation on Oahu

NRG reference PV plant
NRG reference PV plant

NRG Energy Inc. (Princeton, New Jersey, U.S.) and Hawaiian Electric Company (HECO, Honolulu, Hawaii, U.S.) have reached power purchase agreements (PPAs) for Hawaiian Electric to buy solar power generated by two Oahu grid-scale PV facilities.

The 14.7 MWAC Lanikuhana photovoltaic (PV) plant will provide solar power at 11.4 cents per kilowatt-hour (kWh) and the 45.9 MW Waipio solar plant, which will be the state’s largest, will provide electricity at 10.4 cents per kWh.

The prices include the Hawaii State Tax Credit. NRG and Hawaiian Electric are also continuing plans for execution of a PPA for the 49 MW Kawailoa Solar facility, also on Oahu. All three projects are targeted to come online in 2019.

The three projects were originally proposed by SunEdison and were acquired by NRG at the end of November 2016 during SunEdison’s bankruptcy proceedings.

In February 2016, as a result of SunEdison missing contract milestones and SunEdison’s financial condition, Hawaiian Electric terminated the original PPAs for the three projects.

The negotiated prices in the new 22-year agreements are lower than the SunEdison agreements, which were both at about 13.5 cents per kWh. Other terms are detailed in the agreements submitted on February 2nd, 2017 to the Hawaii Public Utilities Commission for approval.

Together the three solar projects will create a combined total of 109.6 MWAC of solar generation and will contribute three percent towards Hawaii meeting its 100 percent renewable portfolio standard.

These projects mark NRG’s entry into the Hawaii utility-scale solar market, reflecting the company’s ongoing commitment to diversifying its electric generation and providing customers a range of renewable energy solutions.

 

2017-02-02 | Courtesy: NRG | solarserver.com © Heindl Server GmbH

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