Solar developer 7X Energy has signed a power purchase agreement (PPA) with CoServ Electric to sell a further of 26.5MW electricity from Lapetus Energy Project located in West Texas.
Image: 7X Energy’s Lapetus Energy Project. Photo: Courtesy of 7X Energy, Inc.
7X Energy stated that through Brazos Electric Power Cooperative, its generation and transmission provider, CoServ has procured the electricity from Lapetus Energy project.
This brings CoServ’s stake to 51.5MW of the total 100MW project. Earlier this year, CoServ signed a PPA with 7X to purchase of 25MW of power through Brazos from the solar facility to be built in Andrews County.
7X Energy CEO Clay Butler said: “CoServ’s commitment to double their purchase through Brazos of the Lapetus project’s electrical output will bring investment and jobs to the state and local community while meeting their mission to ‘provide safe and reliable energy solutions to their members and customers’.”
7X Energy is developing the Lapetus solar project to deliver firm blocks (SolarBlocks) to the ERCOT North trading hub.
The fixed blocks of solar are designed to lock in low energy rates during critical periods when electricity would be expensive and eliminates the intermittent variability and weather risk of delivered energy associated with traditional solar PPAs.
As per 7X Energy, the fixed blocks allowed CoServ to double its original power purchase. This can benefit the co-op’s more than 235,000 electric meters in the Dallas-Fort Worth area.
Additionally, few days ago, Brazos purchased 42.5MW on behalf of seven of its other distribution cooperative members, increasing the project capacity from 25MW to 67.5MW.
In May this year, 7X Energy signed a PPA with CoServ Electric and Brazos Electric Power Cooperative to sell solar energy from the project. The project is scheduled to begin operations next year.
The project will be located in Andrews County, Texas. During the peak construction phase, the facility is expected to generate 150 jobs to the county and inject $20m in local property tax revenue during the life of the project.