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EDF Renewables Signs PPA

July 23,2018



EDF Renewables North America announced the signing of a 25-year Power Purchase Agreement (PPA) with Southern California Public Power Authority (SCPPA) for the energy and renewable attributes related to the 70 megawatts (MWac) / 100.8 MWdc Desert Harvest II solar photovoltaic project under a Renewable Energy Credit (REC) + Index structure.

The Desert Harvest II Solar Project is expected to begin delivery of electricity to SCPPA’s participating members, Anaheim, Burbank, and Vernon, starting in 2020. In conjunction, EDF Renewables signed a long-term financial hedge for power with Morgan Stanley Capital Group Inc.

EDF Renewables said that under the SCPPA PPA, EDF Renewables worked to create a structuring solution to address the specific challenges posed by the California “duck curve.” EDF Renewables is able to provide SCPPA with a PPA structure that shelters the buyer from exposure to merchant prices through the utilization of a long-term hedge, coupled with a 35 MW, 4-hour energy storage system (ESS), which are both the responsibility of and for the benefit of the Seller.

The Desert Harvest II Solar Project is located on unincorporated land in Riverside County, California

Tags:
Contract Awards   California   EDF Renewables   Solar  

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