Invenergy LLC has executed a power purchase agreement (PPA) that will provide Texas with more renewable wind energy. This agreement is the first power agreement adopted as part of the Renewable Denton Plan, which is designed to increase the amount of electricity generated in the city of Denton from renewables from 40 to 70% by 2019.
Approved by Denton’s City Council in June 2016, the RDP is projected to save city ratepayers $500 million over the next 20 years, cut emissions by over 70%, and reduce natural gas usage by 37%.
The additional power will come from Invenergy’s Santa Rita wind farm facility located in Reagan and Irion Counties in Texas, which offer an ideal location for renewable energy generation. Denton Municipal Electric will begin receiving power from the facility on or before January 1, 2019.
“This agreement is a significant step forward in providing more renewable power to the citizens of Denton,” said Mayor Chris Watts. “We are excited to partner with Invenergy on a long-term contract that will increase our renewable portfolio while maintaining competitive rates.”
During construction, the Santa Rita Wind Farm will create hundreds of local jobs. The facility is expected to generate millions in annual tax revenue for the community.