EDF Renewables Signs Two 20-Yr PPA For Solar+Storage Proj in California

The Project is slated to achieve commercial operation by the end of 2021. The agreement is for generation and storage of solar energy.

EDF Renewables North America signed two 20-years Power Purchase Agreement (PPA) with Silicon Valley Clean Energy (SVCE) purchasing 55 percent of the output, and Monterey Bay Community Power (MBCP) getting the remaining 45 percent.

The Project is slated to achieve commercial operation by the end of 2021. The agreement is for generation and storage of solar energy.

SVCE and MBCP jointly launched a competitive procurement process in September 2017 to take advantage of economies of scale for the combined four county service territory. This unique collaboration between these two CCAs allowed for more purchasing power to better-source cost-effective, clean electricity for their communities.

“We are delivering on our commitment to our customers to provide reliable, renewable energy that will help us reach our decarbonization goals,” said Girish Balachandran, CEO of Silicon Valley Clean Energy. “This long-term agreement with EDF Renewables for solar-plus-storage shows that as a CCA we have the financial stability to make investments in these kinds of innovative renewable projects.”

“EDF Renewables is pleased to be selected by SVCE and MBCP – two forward-thinking CCAs to supply affordable, in-state green energy to their customers. The inclusion of storage provides the agencies with a 100% clean and partially dispatchable product, allowing them to mitigate the ‘duck curve’ risk and monetize price spikes,” said Valerie Barros, director of renewables and storage product development at EDF Renewables.

The electricity generated at full capacity is enough to meet the consumption of up to 64,000 average California homes. This is equivalent to avoiding more than 315,000 metric tons of CO₂ emissions annually which represents the greenhouse gas emissions from 67,000 passenger vehicles driven over the course of one year.