US strikes 2.5 GW of wind PPAs in Q3 - AWEA

Wind project developers in the US have signed 2,467 MW of power purchase agreements (PPAs) in the third quarter, bringing the year-to-date contracted capacity in 2018 to a new high of 7,550 MW, shows data by the American Wind Energy Association (AWEA).

As wind is “rapidly expanding as a major source of American energy, good jobs and clean air,” the year is set to be the most active one both for utility and non-utility PPAs. Of the total 2,467 MW of announced deals for July-September, utilities struck PPAs for 1,522 MW of wind power capacity, including contracts for the 800-MW Vineyard Wind offshore wind project south of Martha's Vineyard. The project, a 50/50 partnership between Copenhagen Infrastructure Partners (CIP) and Avangrid Renewables LLC, is the US' first large-scale offshore wind farm and will sell its output under contracts with Eversource Energy (NYSE:ES), National Grid and Unitil Corp (NYSE:UTL).

PPAs signed by corporate and other non-utility customers came at 945 MW, accounting for 38% of the total. This included eight first-time buyers, among which are JM Sucker Co (NYSE:SJM), known as the Smucker’s, Boston University and Royal Caribbean Cruise Lines.

Cumulatively, non-utility purchases of wind power capacity surpassed 10,000 MW, with the contracted capacity in the first three quarters already exceeding the record set in 2015.

According to AWEA’s US Wind Industry Third Qurter Market Report, the US has 37,965 MW of projects under contstruction or in advanced development, with 4,507 MW announced in the third quarter alone. Meanwhile, the country brought online 612 MW of wind farms in the third quarter, lifting its cumulative installed wind power capacity to 90,550 MW.

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