Recurrent Energy awarded from Austin Energy for 150 MW of solar capacity in West Texas. After being completed in 2016, the facility will be the largest solar power plant and the power will be delivered to Austin Energy pursuant to a 20-year Power Purchase Agreement.
“With our largest utility scale solar award, we are taking an important step towards meeting our goal of acquiring 200 MW of solar energy by 2020,” said Larry Weis, Austin Energy General Manager. “Solar power has reached a price that is competitive in the ERCOT market, allowing us to further diversify our energy portfolio with renewable resources.”
“The Texas market represents an exciting opportunity for the solar industry,” said Arno Harris, Chairman and CEO of Recurrent Energy. “The industry’s growing scale and decreasing costs are enabling us to successfully compete against conventional energy in deregulated markets like ERCOT. This award from Austin Energy further proves solar’s ability to move into the mainstream energy mix.”
Recurrent Energy has been actively developing solar project opportunities in Texas for several years. This award is Recurrent Energy’s first in Texas and brings the company’s contracted portfolio to more than one GW.