Avangrid and Statkraft sign VPPA
The VPPA is a short-term arrangement, and its exact duration hasn't been specified.
Image for illustration purposes.
USA, Connecticut: Avangrid Inc, a unit of Spanish Iberdrola SA, and Statkraft AS, Norwegian state-owned power company, have sealed an agreement which will see the latter receive Renewable Energy Certificates (RECs) from a 300 MW wind park in Illinois. The RECs purchase will be done under a virtual power purchase agreement (VPPA). According to the parties’ filing, this is the first such contract they sign in the US market. The companies said the VPPA is a short-term arrangement, without specifying its exact duration.
The contract is tied to Avangrid’s Streator Cayuga Ridge South Wind project near Odell in Illinois’ Livingston County. The complex, which consists of 150 turbines, has been generating electricity since 2010. “This VPPA marks a significant milestone in the establishment and expansion of our PPA business in the United States,” commented Patrick Pfeiffer, head of Statkraft US.
Source: Renewables Now
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