The World's #1 Renewable Energy Network for News, Information, and Companies.
Untitled Document

Austin, Texas Approves Wind Power Agreement to Achieve Utility's Renewables Goal Four Years Early

The Austin, Texas, City Council approved a wind power contract Feb. 27 that enables Austin Energy to achieve its goal of delivering 35 percent of all of its electricity from renewable sources four years ahead of its goal, the utility said in a news release.

The contract with Lincoln Renewable Energy calls for Austin Energy to buy up to 300 MW of wind power for 18 years for $31 million a year. The price for the wind power is in the $26-to-$36/MWh price range, making it the least expensive wind purchase Austin Energy has ever entered into since it began contracting for wind power in the late 1990s.

The price is also lower than the $32/MWh average cost for all power in the Electric Reliability Council of Texas in 2013 and will not increase customer bills, the utility said.

The new wind project consisting of 160 wind turbines will be built in Castro County, Texas and is projected to come online in the fourth quarter of 2015.

The new project is in addition to two other new projects that Austin Energy entered into contracts with last year to purchase wind power. Those two projects by Duke Energy (NYSE:DUK) are 200 MW each and are scheduled to come online in 2015 and 2016, respectively. The 300-MW Castro County project replaces a 170-MW project that was approved last year but did not materialize, Austin Energy said.

When the three new projects are all online, Austin Energy will have about 1,350 MW of wind power in its portfolio — helping Austin Energy achieve its 35 percent renewable energy goal in 2016 — four years ahead of schedule. Austin Energy also currently has about 50 MW of solar power and 112 MW of biomass.

The new wind contracts are the last Austin Energy expects to enter into before 2020 since it has reached its renewable energy goal and will now concentrate its efforts at achieving it solar energy goals — which includes installing 200 MW of solar by 2020 with half of that installed locally.

Austin said it is a renewable leader for public power utilities in the country. Austin Energy also owns a 16 percent stake in the dual-unit South Texas Project nuclear station. NRG Energy (44 percent) and CPS Energy (40 percent) are the other partners in the nuclear plant.

Austin recently held a set of public meetings to help the utility update its generation and climate protection plan.

This article was originally published on TransmissionHub and was republished with permission.

Lead image: Austin, Texas via Shutterstock

Untitled Document

RELATED ARTICLES

U.S. Offshore Wind Power Industry Starting to Emerge

Ehren Goossens, Bloomberg A few miles off the coast of Block Island, a new U.S. industry is emerging from the Atlantic Ocean. That’s where Deepwater Wind LLC is installing a massive steel frame, more than 1,500 tons, that sits on the seabed and juts...

100-MW Kenyan Wind Farm Will Help Power Africa

Renewable Energy World Editors As part of President Obama’s Power Africa initiative, the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, announced that it committed $233 million in debt financing to ...

Regional News from the July/August 2015 Digital Edition of Renewable Energy World

Renewable Energy World Editors EcoFasten Solar announced that it launched a new mounting "Rock-It System" that it would be displaying during Intersolar. Product compliance was determined through testing per UL Subject 2703, which reviews integr...

With 1.6 GW of Wind Capacity Installed in Q2, American Wind Power Continues To Ramp Up in 2015

David Ward, American Wind Energy Association With 1,661 megawatts (MW) of newly installed wind turbines coming online during the second quarter of 2015 and more than 13,600 MW under construction, American wind power continues to increase its contribution to the U.S. e...
Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL F...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 4
1507REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

SOCIAL ACTIVITY

Tweet the Editors! @megcichon @jennrunyon

FEATURED PARTNERS



EVENTS

Doing Business in South Africa – in partnership with GWEC, the Glob...

Wind Energy in South Africa has been expanding dramatically, growing fro...

Grid-connected and Off-grid Photovoltaics

This training covers all aspects of planning, installation, maintenance,...

2015 Intersolar-South America

Canadian Solar will be exhibiting @ Intersolar-South America. Stop by an...

COMPANY BLOGS

Fort Collins Residents Help City Reach Climate Targets While Saving...

Fort Collins resident Norman Illsley, 90, is making a statement. He purc...

6 Tips For Finding Great Leads

Embrace and cultivate all of the empowering qualities of a sa...

New coating extends cylinder life 8 times longer than traditional c...

Hydroelectric turbine systems operate in extremely harsh conditions. The...

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS