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Deriva will sell power generated at the project to the Tri-State Generation and Transmission Association through two PPAs. Image: Deriva Energy.
US renewable project developer and operator Deriva Energy has commissioned its 140MW Spanish Peaks Solar portfolio in the US state of Colorado.
Deriva noted that the projects began commercial operation on 26 December, in line with its plans to commission the projects in the fourth quarter of 2024, and will supply power to local power supply cooperative the Tri-State Generation and Transmission Association through two “long-term” power purchase agreements (PPAs).
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The company acquired the projects from German solar developer JUWI in January 2024, at which point Deriva said that the PPAs would last for 19 years. Tri-State manages the power supply for over a million customers across Colorado, Nebraska, New Mexico and Wyoming, and the commissioning of the Spanish Peaks projects will help the utility meet its target of generating half of its electricity from renewable sources by the end of this year.
“Spanish Peaks Solar demonstrates the benefits that new generation projects offer to both Tri-State’s members, and to the rural communities where projects are located,” said Don Keairns, vice-chair of the Tri-State board and board member of the San Isabel Electric Association (SIEA).
“Spanish Peaks Solar is part of the reliable, affordable and diverse resource portfolio from Tri-State to serve the SIEA and the other members, and brings new investment and tax base to southern Colorado.”
The news is a positive development for the Colorado solar sector – at least its downstream component – after Swiss firm Meyer Burger scrapped plans to build a cell manufacturing plant in the state last year. While this owes much to Meyer Burger’s well-documented struggles in 2024, there are concerns about the future of the US solar sector more broadly as noted renewable power sceptic Donald Trump is set to return to the White House by the end of the month.
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