Friday, February 11, 2011

PG&E Gets Approval for Power Purchase Agreements

California Public Utilities has approved the three 20-year power purchase agreements (PPAs) for a total of 450MW in new wind energy generation between Pacific Gas and Electric Company, and Greengate's wholly-owned subsidiaries.

The PPAs include the terms of purchase and the sale of renewable energy credits (RECs) from Greengate's 150MW Halkirk I project and 300MW Blackspring Ridge I project, to be built in Alberta, Canada.

Greengate said in a statement that it will sell all the RECs linked with the 1,400GWh of energy to be generated from both of its plants to PG&E at fixed prices for 20 years.

Source: PG&E Gets Approval for Power Purchase Agreements - Power Technology

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