Ashtrom Inks Major Solar PPA with San Antonio's CPS Energy

• Ashtrom Renewable Energy powers San Antonio with 150 MW solar project, securing a 20-year PPA with CPS Energy, boosting Texas's green energy landscape.

Ashtrom Renewable Energy, a subsidiary of Israel's Ashtrom Group, has signed a power purchase agreement (PPA) with CPS Energy, the utility company serving San Antonio, Texas. The agreement involves supplying approximately 70% of the electricity generated by Ashtrom's El Patrimonio solar project, along with renewable energy certificates (RECs), to CPS Energy for 20 years at a fixed price. The remaining electricity output will be sold in Texas's open electricity market.

The El Patrimonio solar project, Ashtrom's second venture in Texas, will be located in Bexar County and is expected to have a capacity of 150 MW. The company aims to achieve commercial operation by the second half of 2027, marking a significant step in expanding its renewable energy footprint in the U.S.

What are the key details of Ashtrom Renewable Energy's PPA with CPS Energy?

• Parties Involved: The power purchase agreement (PPA) is between Ashtrom Renewable Energy, a subsidiary of Israel's Ashtrom Group, and CPS Energy, the utility company serving San Antonio, Texas.
• Project Details: The agreement pertains to the El Patrimonio solar project, which is Ashtrom's second renewable energy venture in Texas.
• Location and Capacity: The solar project will be located in Bexar County, Texas, and is expected to have a capacity of 150 megawatts (MW).
• Electricity Supply: Approximately 70% of the electricity generated by the El Patrimonio solar project will be supplied to CPS Energy.
• Renewable Energy Certificates (RECs): Along with the electricity, Ashtrom will provide renewable energy certificates to CPS Energy, which can be used to meet renewable energy standards and goals.
• Contract Duration: The PPA is set for a duration of 20 years, ensuring a long-term supply of renewable energy to CPS Energy.
• Pricing Structure: The electricity supplied under the PPA will be sold at a fixed price, providing price stability for CPS Energy over the contract period.
• Market Sales: The remaining 30% of the electricity output from the project will be sold in Texas's open electricity market, allowing Ashtrom to capitalize on market dynamics.
• Timeline for Operation: Ashtrom aims to achieve commercial operation of the El Patrimonio solar project by the second half of 2027.
• Strategic Expansion: This project represents a significant step for Ashtrom Renewable Energy in expanding its renewable energy footprint in the United States, particularly in the Texas market.