EDF Renewables North America Signs Power Purchase Agreements with Silicon Valley Clean Energy and Monterey Bay Community Power
New Solar + Storage Project in California will provide grid stability with utility-scale storage
SAN DIEGO & SUNNYVALE, Calif. & MONTEREY, Calif.: EDF Renewables North America announced today the signing of two 20-year Power Purchase Agreements (PPA) for the 128 megawatt (MWac) with 40 MW/160 MWh battery storage Big Beau Solar+Storage Project in Kern County, California. Silicon Valley Clean Energy (SVCE) will purchase 55-percent of the output, and Monterey Bay Community Power (MBCP) will purchase 45-percent. The Project is slated to achieve commercial operation by the end of 2021.
SVCE and MBCP jointly launched a competitive procurement process in September 2017 to take advantage of economies of scale for the combined four county service territory. This unique collaboration between these two Community Choice Aggregators (CCAs) allowed for more purchasing power to better-source cost-effective, clean electricity for their communities.
“We are excited to bring online a new California solar-plus-storage project with SVCE and EDF Renewables,” said Tom Habashi, CEO of Monterey Bay Community Power. “Solar development has been a hallmark of California’s renewable energy boom and with the storage component, we can realize the full potential of solar generation.”
“We are delivering on our commitment to our customers to provide reliable, renewable energy that will help us reach our decarbonization goals,” said Girish Balachandran, CEO of Silicon Valley Clean Energy. “This long-term agreement with EDF Renewables for solar-plus-storage shows that as a CCA we have the financial stability to make investments in these kinds of innovative renewable projects.”
“EDF Renewables is pleased to be selected by SVCE and MBCP – two forward-thinking CCAs to supply affordable, in-state green energy to their customers. The inclusion of storage provides the agencies with a 100% clean and partially dispatchable product, allowing them to mitigate the ‘duck curve’ risk and monetize price spikes,” said Valerie Barros, director of renewables and storage product development at EDF Renewables.
The electricity generated at full capacity is enough to meet the consumption of up to 64,000 average California homes. This is equivalent to avoiding more than 315,000 metric tons of CO₂ emissions annually1 which represents the greenhouse gas emissions from 67,000 passenger vehicles driven over the course of one year.
EDF Renewables is one of the largest renewable energy developers in North America with 10 gigawatts of wind, solar, and storage projects developed throughout the U.S., Canada, and Mexico.
1 According to US EPA Greenhouse Gas Equivalencies calculations.
About EDF Renewables:
EDF Renewables North America is a market leading independent power producer and service provider with over 30 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distributed solutions: solar, solar+storage, EV charging and energy management; and asset optimization: technical, operational, and commercial skills to maximize performance of generating projects. EDF Renewables’ North American portfolio consists of 10 GW of developed projects and 10 GW under service contracts. EDF Renewables is a subsidiary of EDF Renouvelables, the dedicated renewable energy affiliate of the EDF Group. For more information visit: www.edf-re.com
About Monterey Bay Community Power
Monterey Bay Community Power is a Community Choice Energy agency established by local communities to source carbon-free electricity for Monterey, San Benito and Santa Cruz counties while retaining PG&E’s traditional role delivering power and maintaining electric infrastructure. As a locally controlled not-for-profit, MBCP is not taxpayer funded and supports Tri-County economic vitality by providing cleaner energy at a lower cost, supporting low-income rate payers, and funding local renewable energy projects. For more information, visit www.mbcommunitypower.org
About Silicon Valley Clean Energy
Silicon Valley Clean Energy is a community-owned agency serving the majority of Santa Clara County communities, acquiring clean, carbon-free electricity on behalf of more than 270,000 residential and commercial customers. As a public agency, net revenues are returned to the community to keep rates low and promote clean energy programs. Member jurisdictions include Campbell, Cupertino, Gilroy, Los Altos, Los Altos Hills, Los Gatos, Milpitas, Monte Sereno, Morgan Hill, Mountain View, Saratoga, Sunnyvale and unincorporated Santa Clara County. SVCE is guided by a Board of Directors, which is comprised of a representative from the governing body of each member community. For more information, please visit www.SVCleanEnergy.org