February 21 (Renewables Now) - DE Shaw Renewable Investments LLC (DESRI) has agreed to sell power from 300 MW of solar parks to Northern Virginia Electric Cooperative (NOVEC) in Virginia.
The power purchase agreement (PPA) was awarded through a competitive selection and is part of NOVEC’s goal to diversify its resource mix, DE Shaw Group said on Wednesday. The specific photovoltaic (PV) parks will be installed within Dominion Energy Inc (NYSE:D) and PJM Interconnection’s service areas.
The proposed plants will be ground-mounted and will be equipped with sun-tracking technology. With an estimated peak capacity of 300 MW, they are expected to be brought online by 2023, generating enough electricity for almost 73,000 households.
“This addition of solar generated electricity will become NOVEC’s largest source of renewable energy,” said Gil Jaramillo, manager, portfolio optimisation and business development at NOVEC. The electric cooperative currently has 60 MW of renewables resources in its portfolio, including solar, biomass, hydropower and landfill methane gas.