Xcel Energy Power Purchase Agreement

SunPower has brought together MetLife and John Hancock Financial Services as the third owner of the new solar photovoltaic fleet. The project builds on MetLife`s more than $1 billion invested in renewable energy projects. John Hancock Financial Services has a renewable energy financing portfolio that covers more than $2 billion in projects in the United States and Canada. Kawakami said: „This agreement guarantees the future of the project and has allowed Xcel Energy to bring more solar energy into our energy mix.” If Xcel Energy had instead accepted a plan from KEPCO to power the facility with conventional photovoltaic components to achieve promised performance, „costs to customers would increase,” Trammel said in the testimony. Clean Grid Alliance CEO Beth Soholt called the filing „a great thing” for Xcel and the central community of Minnesota Becker, where the unknown customer is located. It`s the first big PPA in Minnesota, she says, and a harbinger of things to come. On March 1, 2019, we signed a 5-year contract with Basin Electric Power Cooperative to sell a maximum capacity of 80 MW, which will begin in June 2023. Xcel stated in the submission that it „could use this electricity and associated UCs to continue to meet its clean energy and CHARBON reduction targets, including through the highly prized renewable energy pilot program.” The use of electricity supply contracts for solar projects was unclear until state regulators clarified last month. Xcel Energy requires its appropriate approvals from FERC and the Colorado Utilities Regulator by September 7, 2021, pursuant to the terms of the termination agreement.

Without permissions, companies must pursue the „healing plan” and repair the components. (Colorado PUC Docket No. 20A-0375E) The tripartite contract is still being approved by the Colorado Utilities Commission. Xcel said the agreement was in line with Colorado`s goal of purchasing 55% of its electricity from renewable energy sources by 2026 and reducing its carbon dioxide (CO2) emissions by 60% by the same year. Power Purchase Agreements (PPAs) are a key mechanism by which distribution companies source variable renewable energy from independent electricity producers. An AAE is a long-term contract (20-25 years) that codifies all aspects of the sale of electricity, including the price of electricity and the legal obligations of both parties. The webinar focused on the provisions of AAEs, which can enable wind and solar technologies to improve grid stability and contribute to the flexibility of the energy system. Important considerations such as complementary services, extended telemetry and automatic production management were discussed.

After the discussion, Xcel Energy, a vertically integrated U.S. electricity supplier and the country`s largest wind consumer, discussed Xcel Energy`s PPP model for wind turbines. Aguayo stated that „while [Alamosa] has been providing renewable energy to customers for years, the time has come to terminate the contract” and „keep customers` bills low.” Xcel Energy submitted a request to the Colorado Public Utilities Commission to terminate an electricity supply contract (PPA) in which the distribution company was the sole customer of KEPCO`s 30 MW-Alamosa Solar Generating Project project. Brooke Trammell, regional vice-president of Xcel Energy`s Regulatory Affairs Council, told the Commission in testimony filed with the state regulator on September 8 that the site`s highly concentrated photovoltaic components did not play „as originally planned.” „SunPower`s experience in the design, construction and financing of solar power plants enabled this project and helped our company meet our customers` demand for clean and renewable energy at a reasonable cost.” As part of the agreement, Northern States Power (part of Xcel Energy) will purchase