EDP Renewables and Invenergy, two giants of the US wind market, announced separate deals to sell a total of 239MW of wind power to corporate customers from still-to-be-built projects, as the US corporate renewables market continues to exceed all expectations.
EDPR-North America announced a 139MW, 15-year power-purchase agreement with Facebook for its 200MW Headwaters II project in Indiana, due on line in 2020.
The social media giant has become a major corporate buyer of renewable power, and not only in the US but around the world, signing big deals in recent years with generators including Invenergy and Enel Green Power in the US, and Vattenfall in Europe.
“Facebook is committed to finding new renewable energy projects on the same power grid for all of our facilities,” Bobby Hollis, director of global energy, said of the latest deal with EDPR.
Separately, Chicago-based Invenergy announced a 100MW, 12-year virtual PPA with Novartis, the international pharmaceuticals company, linked to its 300MW Santa Rita wind project scheduled for completion in 2019 in Texas.
Invenergy already has PPAs in place for Santa Rita with the city of Denton, Texas, and Grupo Bimbo, covering the US operations of the Mexican baking company.
With a flexible approach to corporate renewables deals, Invenergy has emerged as one of the early leaders in the flourishing market, with more than 1.5GW of corporate off-take signed so far. Invenergy has brought several first-time buyers into market this year, including Merck.
At the end of the second quarter of 2018, corporate and non-utility customers had signed a cumulative 9.7GW of wind PPAs in the US, according to the American Wind Energy Association’s US Wind Industry Second Quarter 2018 Market Report.
“Corporate purchasers like Facebook, who purchase fixed, competitively priced renewable energy, have greatly contributed to the continued growth and success of the wind industry,” says Joao Manso Neto, chief executive of EDP.