CPS Energy Reaches Agreement For 300-Megawatt Solar Project
May 24, 2022
by Paul Ciampoli
APPA News Director
May 24, 2022
Texas public power utility CPS Energy has reached agreement with Consolidated Edison Development Inc. for a 300-megawatt (MW) solar project that will be located in Goliad County, Texas.
The project, dubbed Peregrine Solar, is expected to increase CPS Energy’s total solar capacity to 852 MW once it comes online.
The project is the first part of the San Antonio-based utility’s “FlexPOWER Bundle” initiative.
Construction is scheduled to begin next year and is expected to add 250–300 temporary jobs with priority hiring from the San Antonio area. As part of the partnership agreement, Con Edison Development will contribute $500,000 over a 10-year period to support one of CPS Energy’s community priorities of supporting customers and education.
Con Edison Development also will hire up to eight positions from Greater San Antonio and maintain $750,000 in annual spending with local suppliers and vendors through the life of the 25-year agreement. This will result in a $19 million local investment for Bexar and Goliad counties.
The FlexPOWER Bundle initiative aims to further diversify CPS Energy’s power generation mix, adding up to 900 MW of solar, up to 50 MW of energy storage and up to 500 MW of firming capacity.
Launched in November 2020, a request for proposals for the FlexPOWER Bundle resulted in over 650 proposals from 100 companies across the U.S. and ten other nations, including Japan, England and South Korea.
CPS Energy expects to finalize and award all FlexPOWER Bundle contracts within the next few months with the next solar selections expected in the coming weeks.
Consolidated Edison Development is a subsidiary of Con Edison Clean Energy Businesses, Inc., which will be solely responsible for the construction, operation, and maintenance costs of the project.
CPS Energy will acquire the solar energy produced at Peregrine through a 25-year power purchase agreement.