SALT LAKE CITY--(BUSINESS WIRE)--sPower, headquartered in Salt Lake City, today announced that Pacific Gas and Electric Company (PG&E) recently awarded the leading renewable energy provider 20-year Power Purchase Agreement (PPA) contracts for three new solar projects in California.
The three facilities, named Bayshore A, B and C, located in Lancaster, Calif., will be constructed and commissioned in 2017. When fully operational, the Bayshore cluster will generate enough clean, renewable energy to power more than 11,000 Californian homes and is expected to reduce carbon emissions by 124,000 metric tons annually – the equivalent of taking more than 26,000 cars off the road1.
“We are excited to expand our relationship with PG&E to a total of more than 100 megawatts of solar, helping PG&E to achieve their goals of delivering safe, reliable, clean energy to their customers,” said Ryan Creamer, sPower CEO. “We admire PG&E’s leadership in clean power transformation efforts and are pleased to be able to be a part of the process.”
sPower projects put hundreds of people to work, create real and lasting benefits for local communities and deliver renewable energy to California homes at competitive prices.
California renewable portfolio standard policy requires utilities to source a third of their electricity from renewable sources by 2020. Earlier this year, PG&E announced that they are well ahead of schedule, having already reached nearly 30 percent – maintaining the utility’s position as a national front-runner in greenhouse gas reductions.
About sPower: Headquartered in Salt Lake City, with offices in San Francisco, Long Beach and New York City, sPower is a leading independent power producer (IPP) that owns and/or operates more than 150 utility and commercial distributed electrical generation systems across the U.S. and the UK. With 4.0 gigawatts between operating, construction and pipeline, sPower is actively buying select utility-scale renewable assets in virtually any stage of development in the United States. sPower is a portfolio company of Fir Tree Partners, a global investment fund. www.spower.com
1 U.S. EPA Greenhouse Gas Equivalencies Calculator, based on 179,235,000 kWh annual system production
