Xcel Energy has a long-term PPA with Colorado development
In Pueblo, Colorado, Xcel Energy and Lightsource BP will build a new 298MW solar farm.
With electricity sales to Xcel, the project is Lightsource BP’s second in the city, reflecting a half-billion-dollar private investment in Colorado’s clean power infrastructure.
Lightsource BP will fund, construct, own, and manage the project, as well as provide the solar energy it generates to Xcel Energy under a long-term power purchase agreement (PPA).
The project is anticipated to commence construction by the end of 2021.
“Lightsource BP is continuing to grow our commitment in Colorado’s clean power future,” stated Kevin Smith, CEO of Lightsource BP Americas.
“As long-time Pueblo residents, we are happy that this project will add to the local job ecosystem and tax base while providing cost-effective renewable energy for decades to come.”
Colorado’s Xcel Energy President “Xcel Energy is excited to be partnering with Lightsource BP on another significant solar project in Pueblo that will bring even more sustainable energy to our system while also creating employment in the community,” Alice Jackson said.
“This partnership is a success for Pueblo and Colorado, and it highlights our commitment to communities as we lead the energy transformation.”
“We’ll keep looking for fresh and innovative ideas that will benefit our consumers.”
The Sun Mountain Solar Farm is planned to offset 404,080 tonnes of CO2 per year, which is the equivalent of removing nearly 87,000 automobiles from the road.
Additionally, the project will produce 300 construction jobs, with the majority of them going to locals, according to Lightsource BP.
The Sun Mountain power purchase agreement is part of Xcel Energy’s larger Colorado Energy Plan, which aims to provide 55 percent renewable energy to the grid by 2026 and cut carbon emissions by 60 percent.
It also helps Colorado’s clean energy target of reducing emissions by 26% by 2025, 50% by 2030, and 90% by 2050 statewide, resulting in cleaner and healthier communities while also contributing to local economies.
