Black Hills Energy signed a 15-year power purchase agreement (PPA) with 174 Power Global for energy from the planned $200 million, 200 MW Turkey Creek Solar facility south of Colorado Springs, Colorado.
Construction is expected to start in 2022, with the project coming online in 2023. Under terms of the deal, Black Hills will buy all power generated by the project. 174 Power Global will lead project development and construction, the engagement and permitting process with local agencies, and also will own and operate the facility.
In January, French energy giant Total and 174 Power Global formed a 50/50 joint venture to develop 12 utility-scale solar and energy storage projects of 1.6 GW cumulative capacity in the United States. The projects are in Texas, Nevada, Oregon, Wyoming, Virginia, and Hawaii. The first project started production in 2020, and the remainder are expected to go online between 2022 and 2024.
Black Hills Energy is based in Rapid City, South Dakota, and serves more than 1.28 million electric and natural gas utility customers in Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming.
174 Power Global is owned by South Korea-based Hanwha Group, and has offices in Houston, Irvine, California and New York City. Since its formation in 2017, 174 Power Global has signed over 3 GW of PPAs. The company’s name was inspired by the 174 petawatts (PW) of power the earth receives from the sun at any moment.
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