Telecommunications major Sprint Corp (NYSE:S) has entered into a virtual power purchase agreement (VPPA) with utility Duke Energy (NYSE:DUK) for a 173.3-MW portion of a wind project in Texas.
Under the 12-year deal with Duke Energy Renewables, Sprint will receive electricity from the utility’s 182-MW Maryneal wind park that will be built in Nolan County. The specific plant will become fully operational by December next year, Sprint said in a press statement on Wednesday.
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The Maryneal wind farm will be built, owned and operated by Duke Energy Renewables. Wanzek Construction will take care of building the plant, with full notice to proceed with construction planned to be issued in early 2020. To be equipped with Nordex/Acciona turbines, the wind park is expected to generate enough electricity for more than 54,000 US homes.
The PPA will help Sprint in its efforts to reduce “significantly” its carbon dioxide (CO2) emissions and source around 30% of the power it consumes from renewables. "This wind project will help us make substantial progress towards offsetting the energy we use across our operations, including our headquarters, retail stores, call centers and cell towers," said Sprint Foundation chairman Doug Michelman.
Sprint’s advisor in the virtual PPA deal was Schneider Electric Energy and Sustainability Services.