- Press Releases
August 9 (Renewables Now) - The City of Chicago has committed to buying electricity from a 593-MW solar farm owned by Swift Current Energy under a long-term deal supporting its goal to cut greenhouse gas emissions by 62% by 2040.
The procurement will happen through a power purchase agreement (PPA) between the City and electricity retailer Constellation Energy Corp (NASDAQ:CEG), Mayor Lori Lightfoot announced on Monday. The contract will be in force for an initial five-year term, starting in 2025.
The contracted electricity will be sourced from Swift Current Energy’s Double Black Diamond photovoltaic (PV) complex and will partially cover the consumption of city airports, a library centre and a water purification plant.
The PPA, signed after a competitive procurement process launched two years ago, aligns with Chicago’s goal to purchase 100% renewable energy for all City facilities and operations by 2025, to be further backed by the purchase of Renewable Energy Credits from other sources.
Being built in downstate Sangamon and Morgan counties, the Double Black Diamond solar farm is expected to generate enough electricity to supply more than 100,000 homes annually. Its construction is due to begin before the end of this year and take 24 months.
Other major organisations in Illinois, apart from the City of Chicago, will also buy electricity from the huge PV farm, according to the statement.