Canadian Solar Inc will provide solar energy to oil and gas pipeline corporate Power Transfer from a solar venture within the Permian in a first-ever devoted photovoltaic agreement that Dallas-located Power Transfer has signed.
Canadian Solar’s wholly owned subsidiary Recurrent Power has signed a power purchase settlement (PPA) to provide Power Transfer with solar power from the Maplewood 2 mission in Pecos County in West Texas for 15 years, the Canadian photovoltaic corporate stated in a statement.
“Insiders of the renewable power industry understand well that photovoltaic PPAs frequently help companies lock in low-price electricity costs to energy their operations. However, it’s worthwhile in 2019 to additionally see valued companions from the standard energy sector like Power Transfer view a purchase order of electrical energy from the high-quality Canadian Sun assets just like the Maplewood 2 mission as a financially sensible choice,” Dr. Shawn Qu, chairman at Canadian Solar, stated.
In step with David Coker, vice chairman of Energy Optimization at Power Transfer, the PPA makes financial sense for the oil and gas pipeline corporate.
“We’re all the time curious about operating our centers appropriately and successfully, and when we principally depend on electricity powered by herbal gas, we do use a various mix of power sources when it makes financial sense to take action. The share of electrical power we buy that comes from photovoltaic and wind resources is now over 20% on any given day with the addition of this settlement with Recurrent Power,” Coker mentioned.
This is not the first time an oil and gasoline corporate has signed a power purchase settlement to use renewable power for its oil and gasoline operations.