May 15, 2014 – Recurrent Energy today announced an award from Austin Energy for 150MW of solar capacity in West Texas. The power will be delivered to Austin Energy pursuant to a 20-year Power Purchase Agreement.
The 150MW solar facility will be completed in 2016 and will be Texas' largest single solar power plant.
"With our largest utility scale solar award, we are taking an important step towards meeting our goal of acquiring 200MW of solar energy by 2020," said Larry Weis, Austin Energy General Manager. "Solar power has reached a price that is competitive in the ERCOT market, allowing us to further diversify our energy portfolio with renewable resources."
"The Texas market represents one of the most exciting opportunities for the solar industry," said Arno Harris, Chairman and CEO of Recurrent Energy. "The industry's growing scale and decreasing costs are enabling us to successfully compete against conventional energy in deregulated markets like ERCOT. This award from Austin Energy further proves solar's ability to move into the mainstream energy mix."