SAN FRANCISCO — Intersect Power, a utility-scale power development company, today announced the award of a power purchase agreement from Austin Energy for a 150 MWac photovoltaic solar project expected to reach commercial operation in 2020.
Intersect Power, through its IPREH joint venture with Macquarie Infrastructure Corporation (NYSE: MIC), is developing this 150 MWac project with the capacity to upsize to 180 MWac. Located in West Texas, Intersect Power has an approximate 1700 acre land lease and ERCOT interconnection for this project.
“The Intersect Power team has a strong track record of delivering on cost effective solar power,” said Sheldon Kimber, CEO and Co-Founder, Intersect Power. “Our expertise in development, design, supply chain and financing allows us to develop projects with compelling economics and this project showcases that capability.”
“This purchase power agreement not only gets us closer to achieving the City’s renewable energy goals, but it’s also a good deal for our customers,” said Jackie Sargent, Austin Energy General Manager. “I am pleased that we can pursue this affordable project and continue to demonstrate economic and environmental leadership on behalf of our community.”
“We are delighted to partner with Austin Energy on this high quality and thoughtfully developed project, bringing competitively priced power to the City of Austin,” said Luke Dunnington, COO and Co-Founder, Intersect Power.
Building on nearly a decade of utility-scale solar development, the Intersect Power team has the creativity and energy market sophistication to deliver innovative solutions that address customers’ rapidly evolving needs. The team continues to develop partnerships across the full supply chain, expand greenfield pipeline, and aggressively pursue acquisition of early development assets.
About Intersect Power
Intersect Power is an infrastructure development company bringing utility-scale power to wholesale customers and markets, delivering value and viability to both energy buyers and financiers. Currently focused on “greenfield” solar and storage project development, Intersect Power’s functional expertise spans all development disciplines including site acquisition, permitting, interconnection, origination, engineering, procurement, construction and finance. Intersect Power is actively developing more than 1000MWp of early stage projects across the U.S. For more information: http://www.intersectpower.com
About Macquarie Infrastructure Corporation
Macquarie Infrastructure Corporation owns, operates and invests in a diversified group of infrastructure businesses providing basic services to customers in the United States. Its businesses consist of a bulk liquid terminals business, International-Matex Tank Terminals, an airport services business, Atlantic Aviation, a gas processing and distribution business, Hawaii Gas, and several entities comprising a Contracted Power and Energy segment. MIC is managed by a wholly-owned subsidiary of the Macquarie Group. For additional information, please visit the Macquarie Infrastructure Corporation website at www.macquarie.com/mic.