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September 21 (Renewables Now) - US lender Citizens Financial Group Inc (NYSE:CFG) has signed a long-term power purchase agreement (PPA) with Ørsted A/S (CPH:ORSTED) for electricity from the Danish company’s 200-MW Sunflower Wind project in Kansas.
The deal will enable the banking group to match the entire power consumption of its operations with renewable energy credits (RECs), it said on Tuesday. The contracted power volume is tied to a 25.8-MW portion of the wind project’s overall capacity.
More specifically, electricity from the wind park will be supplied to and resold in the local electricity grid, while Citizens will utilise the related RECs to go all-renewable.
To be installed in Kansas’ Marion County, Sunflower Wind is already under construction and is expected to be commissioned by 2023. Once up and running, it will be capable of generating electricity for around 96,000 homes annually.
Ørsted took a final investment decision on the project in April, its fourth onshore wind farm in the Southwest Power Pool (SPP) energy market. It took possession of the scheme with the acquisition of Lincoln Land Wind in 2021.