SCPPA PPA Springboards sPower's Second Phase of 330MW Flagship Project
SALT LAKE CITY--sPower, a prominent renewable energy provider, today announced that it has been awarded a 20-year PPA with Southern California Public Power Authority (SCPPA) to provide 68.8MWdc (55MWac) of solar power. Participating member agencies are the cities of Azusa, Colton, Riverside and Vernon.
The sPower Antelope DSR 1 and 2 facilities will be constructed on roughly 440 acres located in Lancaster, Calif., Los Angeles County. Construction is expected to begin mid-2016, with a commercial operations date (COD) in 2016. sPower estimates a peak construction crew size of up to 160.
"Renewable energy continues to be a focus for SCPPA members, and with partners like sPower, we are able to offer our members clean, reliable and affordable power," said Kelly Nguyen, SCPPA Director, Energy Systems.
When fully operational, the facilities will cumulatively generate enough renewable energy for nearly 10,000 homes and are expected to reduce carbon emissions about 108,000 metric tons annually - the equivalent of greenhouse gas emissions from 257 million miles driven by an average car or carbon dioxide emissions from 1,400 tanker trucks' worth of gasoline1.
These projects are the third and fourth sPower-owned facilities with long term SCPPA PPAs. The previous PPAs were for 20MW projects, both of which are on track for 2016 CODs. "We appreciate the collaborative relationship that has been built with SCPPA," said Ryan Creamer, sPower's CEO. "SCPPA is an exceptional organization to work with, balancing goal setting with flexibility -- without sacrificing schedule or budget milestones."
sPower has been developing solar projects in California for several years, as well as in other key markets across ten states and in the UK. Earlier in the year, the company closed on its first back leverage transaction for $168.5MM debt financing and has more than a gigawatt of projects planned.
About sPower: Headquartered in Salt Lake City, with offices in San Francisco and New York City, sPower is a prominent independent power producer (IPP) that owns and/or operates more than 150 utility and commercial distributed electrical generation systems across the United States and the UK. With greater than 1.7 gigawatts between construction and pipeline, sPower is actively buying select renewable assets in virtually any stage of development in North America and the UK. sPower is a portfolio company of Fir Tree Partners, a leading global investment fund with more than 20 years of investing history and approximately $13 billion of capital under management. www.spower.com
About SCPPA: The Southern California Public Power Authority is a joint powers authority (formed under the provisions of the Joint Powers Act of the State of California ) consisting of eleven municipal utilities and one irrigation district. SCPPA was formed in 1980 to finance the acquisition of generation and transmission resources for its members, including the acquisition of renewable energy projects on behalf of its members. www.scppa.org
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