CalEnergy signs 50 MW geothermal long term PPA with Arizona utility
CalEnergy has signed a 24 year power purchase agreement for 50 MW with Arizona utility Salt River Project. The contract represents 15% of the capacity of CalEnergy's geothermal facilities.
In a press release today, Canadian TransAlta Corporation announced that CalEnergy, LLC, a joint venture it has with MidAmerican Energy Holdings Company, has executed a 50 MW long-term contract for renewable geothermal power with Salt River Project (SRP), an Arizona utility.
The duration of the power purchase agreement is 24 years, or from 2016 to 2039. The SRP contract reflects 15% of the capacity of CalEnergy’s geothermal facilities, bringing the total contracted capacity to 40%.
CalEnergy is now continuing to sell of the remainder of the capacity from the 10 geothermal facilities, as the existing contracts roll off.
Source: TransAlta release via Marketwire