Announces power purchase agreement with West Texas SunEdison solar facility
DALLAS – September 8, 2015 – Continuing its commitment to serve customers and Texas with a balanced energy portfolio, Luminant has agreed to buy 116 megawatts generated by a SunEdison large-scale solar plant in Upton County, Texas. The power purchase agreement, which is being added to Luminant’s already diverse mix of energy sources, is the largest in the nation for a merchant generator operating in a competitive market.
In announcing the long term solar agreement, Luminant Chief Executive Officer Mac McFarland said, “We have a long history of operational excellence and innovation in providing safe, affordable electricity for the benefit of Texans, and we are proud to continue that tradition with this solar project.”
Luminant, the largest power generator in Texas, now adds solar to its diverse energy mix, which includes coal, natural gas and nuclear power, as well as significant purchases of wind-generated electricity.
Starting in late 2016, Luminant will purchase power from SunEdison’s Castle Gap facility, a photovoltaic solar plant currently under development in Upton County. Unlike typical agreements in which the solar-generated power is sold to a specific customer or in a regulated portion of Texas, Luminant will sell the electricity to the ERCOT competitive market.
“As we evaluate our future generation needs, we focus on projects that are profitable and able to compete in the wholesale market. This agreement with SunEdison meets those goals since solar generation costs have become increasingly competitive,” McFarland added.
SunEdison is the world’s largest renewable energy development company delivering predictably priced electricity to residential, commercial, government and utility customers. For competitive reasons, prices are not being disclosed.
- On sunny days, these 116 MWs are enough to power 58,000 Texas homes during normal demand and 23,200 homes during peak demand.
- The Castle Gap facility will span nearly 800 acres in West Texas.
- Approximately 485,000 photovoltaic solar panels will be installed at the facility.
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Luminant, a subsidiary of Energy Future Holdings Corp., is a competitive power generation business, including mining, wholesale marketing and trading, and development operations. Luminant has more than 13,700 megawatts of generation in Texas, including 2,300 MW fueled by nuclear power and 8,000 MW fueled by coal. The company is a large purchaser of wind-generated electricity. EFH is a Dallas-based energy holding company that has a portfolio of competitive and regulated energy subsidiaries in Texas. Visit luminant.com, energyfutureholdings.com or our corporate blog pov.energyfutureholdings.com for additional information.