AEP Energy, subsidiary of one of the largest electric energy wholesale and retail suppliers in the U.S., the American Electric Power company, announced today it signed a renewable energy purchase agreement with Doral LLC; developer of renewable energy projects, primarily in the Midwest and Mid-Atlantic regions.
Firstly, the purchase agreement was between AEP Energy and Global Energy Generation LLC, also known as Doral LLC; which is in turn a joint venture between Doral Group and Clean Energy Generation LLC.
Secondly, the purchase agreement was for the Mammoth Solar project, located in Indiana. In fact, the Mammoth Solar project is a 1,65-gigawatt direct current solar project being developed by Doral LLC. It will cover more than 12,000 acres in Starke and Pulaski counties in northern Indiana.
Thirdly, the purchase agreement will come out of the first phase of the project, the Mammoth Solar 1; a 480 MWdc. It will begin construction during the fourth quarter of 2021 and reach commercial operation by the second quarter of 2023.
Although the details of the agreement were not disclosed, Nick Cohen, CEO of Doral LLC, commented. “This is one of the largest solar power purchase agreements in the PJM market. Mammoth 1 will displace 40,000 tons of greenhouse gas emissions and save 1 billion gallons of irrigation well water annually.”
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AEP Energy to boost local economy after its renewable energy purchase agreement
He also remarked. “Reduced farming chemicals and fertilizers along with allowing the land to be fallow, like in a CRP program, will only enhance the quality of the land for future generations. The investment of hundreds of millions of dollars into the community will create jobs and uplift the economy.”
On the other hand, Greg Hall, president, AEP Energy, commented. “AEP Energy is focused on providing customers with integrated, also carbon-free energy supplies that deliver long-term price stability; while benefitting the environment and surrounding communities.”
He also highlighted. “Agreements like the one with Doral LLC demonstrate how our innovative energy solutions can support the development of new renewable clean energy resources; also, boost local economies and help our customers power their homes and businesses with clean, reliable energy.”
Finally, AEP Energy supplies electricity and natural gas solutions for more than 500,000 residential and business customers. It is based in Columbus, Ohio, and Chicago.