Thomas Jefferson University, Thomas Jefferson University Hospitals Inc., Main Line Health System, Frankford Hospitals, Magee Rehabilitation and the Albert Einstein Healthcare Network, have signed a power purchase agreement (PPA) with Iberdrola Renewables that will meet approximately 35% of the anticipated aggregate electricity consumption of these institutions for 10 years. Iberdrola will sell the electricity to the healthcare group from the Locust Ridge II wind power project in Schuylkill and Columbia counties.
The 102 MW Locust Ridge II wind project will supply the purchase and is expected to be operational in the first quarter of this year. It will be the largest of 11 operating utility-scale wind power projects in the state.
The 10-year, fixed-price PPA with the healthcare group will begin in 2011, when regional electricity price caps are removed. The group purchase, totaling approximately 110 kWh per year, is expected to account for 45% of the entire wind farm output, helping to provide necessary revenue to support the construction of the project.
As part of the agreement, the group has also purchased wind-generated renewable energy credits (RECs) associated with 10% of the energy they have contracted for with Iberdrola Renewables. Each REC is associated with the production of 1 MWh of renewable energy from the project.
The Locust Ridge II wind power project consists of 51 2 MW Gamesa wind turbines manufactured in Bucks County, Pa. Iberdrola Renewables developed, built and will operate the new wind farm.
SOURCE: Iberdrola Renewables