Buffett-Owned Utility’s Move From Coal To Solar Approved
Warren Buffett trades for six solar plants, retiring a coal unit; Nevada regulators have approved six contracts for 1 GWac of solar power coupled with 100 MW / 400 MWh of energy storage. The purchase allows for the retirement of one of the state’s two running coal units.
John Weaver, December 26, 2018 (PV Magazine)
Nevada regulators have approved six solar power plants and three energy storage facilities, totaling just over 1 GWac of solar power and 100 MW / 400 MWh of storage…One of the facilities will come online by the end of 2020, and five by the end of 2021…[As NV Energy reaches 32% renewables with the scheduled] completion of the solar projects, a 254 MW coal plant will be retired…All six power purchase agreements (PPAs) have prices below $30/MWh: Sempra Renewables’ 250 MW Copper Mountain farm starts at $21.55/MWh, with a 2.5% annual escalation over the 25-year term of the contract…8minuteenergy’s 300 MW Eagle Shadow Mountain facility has a fixed PPA price of $23.76/MWh. This plant represents the lowest solar PPA price in the United State’s currently…
174 Power Global’s 50 MW Techren V will sell power at $29.89/MWh with no escalation…NextEra Energy’s 200 MW Dodge Flat solar plant includes a 50 MW / 200 MWh battery storage system, priced its PPA $26.51/MWh…NextEra’s 100 MW Fish Springs Ranch solar farm is also priced at $26.51/MWh and comes with with 25 MW / 100 MWh of storage…Cypress Creek’s 101 MW Battle Mountain Solar project also includes 25 MW / 100 MWh of storage, and is priced at a flat price of $26.50/MWh…The storage facilities will receive capacity payments that range which range from $6,100/MW-month for Dodge Flat to $7,755/MW-month for Battle Mountain…[T] he 254 MW North Valmy 1 coal-fired plant will retire by Dec. 31, 2021, four years early. The North Valmy Unit 2 (268 MW) is still set to be retired by the end of 2025, and reports have suggested it can also be shut early…” click here for more