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MP2 Energy To Purchase Excess Output From Village Farms’ New Solar Facility in Texas
April 06,2016 Village Farms L.P. the U.S. operating subsidiary of Village Farms International, Inc., SolarCity and MP2 Energy have agreed to build a 2 megawatt solar array adjacent to Village Farm's 30 acre Permian Basin Division greenhouse in Monahans, Texas. The solar system is expected to provide the facility with nearly all of its daytime electricity needs and generate more than 82 million kilowatt-hours of power over the life of the system. Through a power purchase agreement, Village Farms will pay SolarCity for the electricity the solar installation generates. The project allows Village Farms to fix its daytime electricity costs at a low rate, comparable to its current electricity rate, and avoid future increases in energy, demand, or congestion charges, the company said. SolarCity will fund, design, engineer, build and maintain the installation. Legend Energy Advisors advised Village Farms on the installation The project will take advantage of net metering with MP2 Energy, Village Farms' power supplier, purchasing excess generation. Village Farms describes itself as, "one of the largest producers, marketers and distributors of premium-quality, greenhouse-grown tomatoes, bell peppers and cucumbers in North America."
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