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News
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LCG, November 14, 2019--Ørsted announced yesterday that, following the final investment decision from its Board of Directors, the company has begun construction on its first utility-scale solar plus battery storage project, the Permian Energy Center.
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LCG, October 31, 2019--Ørsted and Public Service Enterprise Group (PSEG) announced Tuesday plans to enter into exclusive negotiations for PSEG to potentially become an equity investor in one of Ørsted's offshore wind projects and acquire 25 percent of the Ocean Wind project.
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Industry News
Xcel Energy, EVRAZ North America and Lightsource BP Announce 250-MW Solar Project in Colorado
LCG, October 1, 2019--Xcel Energy, EVRAZ North America and Lightsource BP announced Friday that they have reached a long-term agreement to develop a 240-MW solar facility in Colorado. Lightsource BP will finance, build, own and operate the Bighorn Solar project and sell all the electricity it generates to Xcel Energy under a long-term power purchase agreement (PPA). The project will be built on EVRAZ Rocky Mountain Steel property in Pueblo, making it the largest on-site solar facility dedicated to a single customer in the country.
The agreement is said to make possible EVRAZ North America's planned long-term investment in Colorado and supports the goals of Xcel Energy's partners and community. EVRAZ North America is Xcel Energy's largest retail electric customer in Colorado and one of Pueblo's largest employers. The companies agreed last year to work towards a long-term electricity contract that gives the steel mill price certainty through 2041. With its 20-year, fixed rate structure, the project provides EVRAZ North America with predictable electricity prices and allows the mill, which employs about 1,000 workers, to stay in Pueblo.
The president and chief executive officer of EVRAZ North America stated, "This pioneering partnership with Xcel Energy and Lightsource BP marks a milestone for the development of our new rail mill and will make EVRAZ North America the industry leader in the use of renewable energy to produce the greenest steel and engineered steel products in the world, from rail to rod & bar. This long-term agreement is key to our investment in Colorado's new sustainable economy."
Lightsource BP and project investors will invest an estimated $250 million into the solar facility, which is expected to go online by the end of 2021. The Colorado Public Utilities Commission must complete a final review of the agreement.
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