Colorado' CORE strikes renewables supply deal with Invenergy
Wind turbines in Colorado. Author: Dave Dugdale. www.solardave.com License: Creative Commons. Attribution-ShareAlike 2.0 Generic
CORE Electric Cooperative, a Colorado electric distribution cooperative, on Tuesday unveiled a wholesale power supply partnership with US clean energy developer Invenergy to procure 1.2 TWh of renewable energy per year.
The energy will come from a portfolio of about 400 MW of new solar and wind energy projects and 100 MW of battery storage, supported by more than 300 MW of existing natural gas resources.
The partnership is for a period of 20 years and will start in 2026. It will replace CORE’s current wholesale power purchase agreement with Xcel Energy, which expires at the end of 2025. CORE currently sources about 60% of its energy from coal.
The new deal comes after a competitive evaluation of proposals. It will advance CORE’s target of cutting carbon emissions by 80% by 2030 and will “stabilise CORE's costs to keep members' rates among the lowest in Colorado for years to come,” according to the announcement.
"CORE's innovative partnership with Invenergy demonstrates that the transition to a clean and reliable energy future can be done without sacrificing affordability for our members," said the cooperative’s chief executive Jeff Baudier.