US utilities group Duke Energy Corp (NYSE:DUK) today said it has started building a 250-MW solar power plant outside of Dallas in Texas, backed by virtual power purchase agreements (VPPA) with three corporations.
The Pisgah Ridge solar project will be owned and operated by Duke Energy Sustainable Solutions and will be the largest utility-scale solar power plant in the brand’s portfolio when completed near the end of 2022.
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Charles River Laboratories International Inc (NYSE:CRL) has signed a 15-year VPPA for 102 MW of the capacity, which will see it meet its entire North American power load with renewable energy by 2023. The agreement is a step toward the company sourcing 100% renewable electricity globally by 2030. The pharmaceutical development business was advised on the VPPA by Schneider Electric SE (EPA:SU).
Two other unnamed corporations have inked separate 15-year VPPAs for the remainder of the capacity.
All three contracts will settle on an as-generated basis linked to the solar park's real-time output, Duke Energy said.
Moss is in charge of the engineering and construction of the park.
Duke Energy aims to double its renewable portfolio from 8 GW to 16 GW by the end of 2025. In Texas, it currently operates almost 1,500 MW of wind, 500 MW of solar and a 36 MW battery storage capacity.