Opdenergy signs a Power Purchase Agreement with TVA for a 90MW solar project in Kentucky
- This initiative confirms Opdenergy as a competitive player in the US Solar market, signing an energy purchase and sale agreement (PPA) as a trusted partner for these types of contracts
Opdenergy, a Spanish firm specializing in the development, financing, construction and operation of renewable assets, today announced the signing of a Power Purchase Agreement (PPA) with Tennessee Valley Authority (TVA), the largest public power utility in the United States. Opdenergy will construct a 90 MW photovoltaic plant in Kentucky and sell the electricity to TVA under the terms of the 15-year agreement. Opdenergy was awarded this PPA through a competitive RFP process in which 3,700 MW of proposals were submitted for TVA’s newly launched Green Invest program.
The plant, located in Simpson County, KY will be in commercial operation 3rd Q 2022 and it will generate more than 301,687MW/hrs per year of green energy and it will supply enough electricity to power 17,000 homes and offset 90,000 metric tons of CO2 annually. which will be allocated to TVA’s commercial activities starting in the second half of 2021.
Luis Cid, CEO of Opdenergy, said, “we are excited to sign this agreement with TVA and are confident that the project will be a very positive endeavor for both the company and the local community. The project will enhance economic and environmental conditions of the region thanks to its specific advantages”
“As a leader in carbon reduction among U.S. utilities, TVA is committed to further reducing our environmental footprint,” says Doug Perry, TVA vice president of Commercial Energy Solutions. “The renewable energy investments we are making through agreements like this with Opdenergy will help us continue to improve our carbon position while encouraging jobs and outside investment in our communities.”