Intersect Power, a utility-scale power development company, has signed a power purchase agreement with Austin Energy for a 150MWac photovoltaic solar project anticipated to begin commercial operation in 2020.
Intersect Power, through its IPREH joint venture with Macquarie Infrastructure Corporation (NYSE: MIC), is developing this 150 MWac project with the capacity to upsize to 180 MWac. Located in West Texas, Intersect Power has an approximate 1700 acre land lease and ERCOT interconnection for this project.
“The Intersect Power team has a strong track record of delivering on cost effective solar power,” said Sheldon Kimber, CEO and Co-Founder, Intersect Power. “Our expertise in development, design, supply chain and financing allows us to develop projects with compelling economics and this project showcases that capability.”
“This purchase power agreement not only gets us closer to achieving the City’s renewable energy goals, but it’s also a good deal for our customers,” said Jackie Sargent, Austin Energy General Manager. “I am pleased that we can pursue this affordable project and continue to demonstrate economic and environmental leadership on behalf of our community.”
“We are delighted to partner with Austin Energy on this high quality and thoughtfully developed project, bringing competitively priced power to the City of Austin,” said Luke Dunnington, COO and Co-Founder, Intersect Power.
Building on nearly a decade of utility-scale solar development, the Intersect Power team has the creativity and energy market sophistication to deliver innovative solutions that address customers’ rapidly evolving needs. The team continues to develop partnerships across the full supply chain, expand greenfield pipeline, and aggressively pursue acquisition of early development assets.