- Press Releases
August 16 (Renewables Now) - Canadian electricity producer Innergex Renewable Energy Inc (TSE:INE) has entered into a 30-year power purchase agreement (PPA) for the output of its 320-MW Boswell Springs wind project in eastern Wyoming.
The counterparty to the deal is PacifiCorp, a subsidiary of Berkshire Hathaway Inc (NYSE:BRK.A), which selected Boswell Springs in a competitive solicitation in 2020. The PPA’s effectiveness is subject to the Wyoming Public Service Commission’s final written order granting the Certificate of Public Convenience and Necessity for Gateway South.
“The contract will provide Innergex with long-term revenue certainty with a high quality, well-capitalised utility,” said Michel Letellier, president and CEO of Innergex.
The developer estimates it will need to invest USD 544 million (EUR 537m) in the construction of the wind park and that the completed plant will be generating operating cash flows of around USD 22.6 million on an annual basis. Moreover, the project is expected to contribute some USD 39.2 million annually from Production Tax Credits (PTCs).
The commercial operation date for Boswell Springs is seen in the final quarter of 2024.
(USD 1 = EUR 0.987)