Holy Cross Energy (HCE), a nonprofit rural electric cooperative based in western Colorado, has announced a renewable energy swap agreement with Colorado wholesale energy company Guzman Energy.
The two-way power purchase agreement (PPA) will enable the development of a new 100 MW wind farm to serve HCE’s members. Once the new wind resources enter service in 2021, the PPA will support HCE’s clean energy and greenhouse-gas reduction goals, as outlined in its seventy70thirty plan earlier this year, calling for 70% clean energy by 2030.
“With today’s announcement, HCE continues to lead the responsible transition to a clean energy future while maintaining affordable and reliable electricity to our members,” says Bryan Hannegan, president and CEO of HCE. “Our new partnership with Guzman Energy will raise the amount of renewable energy in our power supply mix to almost 70 percent by 2021 – nine years earlier than promised. We are gratified that our agreement with Guzman Energy will also allow them to increase the amount of renewable energy in their power mix.”
Additionally, Guzman Energy will use, as necessary, HCE’s stake in Unit 3 of the Comanche Generating Station in Pueblo, Colo., a 750 MW coal-fired generating unit.
“This deal allows HCE to meet their renewable energy goals without increasing cost, adds more renewables to the grid in the West and supplements Guzman’s overall resource mix with reliable baseload as needed,” says Jeff Heit, managing director at Guzman Energy. “It’s another example of what can be accomplished if stakeholders work together to find innovative ways to transition to the new energy economy.”