Idaho Power to purchase 120 MW of solar from Jackpot Holdings
Idaho Power recently signed an agreement with Idaho-based Jackpot Holdings, LLC to purchase solar energy from a future 120 megawatt (MW) to be located near Twin Falls, Idaho.
“Today’s announcement reflects Idaho Power’s commitment to resources that balance environmental stewardship with affordability and reliability,” Idaho Power President and CEO Darrel Anderson said. “This deal will provide energy that is not only clean, but is also at a cost that benefits our customers.”
Idaho Power will purchase the energy under a 20-year power purchase agreement. The company will initially pay $21.75 per megawatt-hour (MWh), which is less than 2.2 cents per kilowatt-hour (kWh). The agreement includes the potential for Idaho Power to purchase the facility as well as buy energy from a proposed expansion at a slightly higher price.
The agreement will help to replace energy produced by the North Valmy coal-fired plant in Nevada, where Idaho Power recently agreed to end operations. Once the solar array is built, it will connect to an existing transmission line that currently delivers energy from the North Valmy plant.
Idaho Power will submit the agreement to the Idaho Public Utilities Commission for approval.
Jackpot Holdings expects to complete the solar array by 2022.
