Quebec-based Innergex Renewable Energy Inc. has signed a 12-year wind power purchase agreement (PPA) with an affiliate of Luminant, a Texas-based power company.
Luminant will buy 300 MW of power from Innergex’s Foard City wind project in Foard County, Texas. The sale of power will begin when the project reaches commercial operations, expected in the third quarter of 2019. Upon completion, the facility should reach an installed capacity of approximately 350 MW.
Site control is already complete, as well as other development milestones, such as environmental impact assessments and the signing of local property tax abatement agreements. Innergex expects to issue a full notice to proceed with construction in the fourth quarter of this year. The company also recently executed an interconnection agreement for Foard City with Electric Transmission Texas LLC.
Additionally, Innergex expects that on-site activities performed since 2016 should qualify the wind project for production tax credits. Discussions with financiers to secure tax equity and debt financing for the project are currently underway.
“With all of our ongoing development activities in the U.S., we are very pleased to have developed a new relationship with a strong off-taker such as Luminant,” says Michel Letellier, president and CEO of Innergex. “Innergex is on a growth trajectory, and thanks to our dedicated team of talented people, we intend to seize every sound opportunity to pursue our development in Canada, the United States, France and Latin America. We are on track to reach and exceed a net installed capacity of over 2,000 MW by 2020.”
