EnviroMission Power Purchase Agreement Approved by Southern California Public Power Authority
MELBOURNE, Australia, Oct. 26 /PRNewswire-FirstCall/ -- Southern California Public Power Authority (SCPPA ) has approved a landmark Power Purchase Agreement (PPA) with EnviroMission Limited (EVM:ASX; Pink Sheets: EVOMY) to purchase green power from EnviroMission's Solar Tower power station development planned for Arizona.
EnviroMission Chief Executive, Roger Davey, said "Finalization of this PPA with SCPPA is an important milestone that will allow project finance to be secured for Solar Tower power station development and the Front End Engineering and Design (FEED) necessary to break ground at the earmarked Arizona site to commence."
SCPPA Executive Director, Bill Carnahan said "SCPPA is excited to support a large scale solar technology that when successfully deployed could change the renewable energy landscape. The pricing and load profile of the Solar Tower coupled with its zero water power production cycle makes it a compelling alternative."
Solar Tower technology uses solar radiation to heat air to drive turbines to generate clean green electricity.
Renewable energy to be sold under the PPA will provide SCPPA with a green alternative competitive with fossil fuel generators once the expected cost of mitigating greenhouse gas emissions is also included. A 200MW Solar Tower power station is expected to annually offset more than 1 million tons of greenhouse gases typically produced by fossil fuel generators of the same scale.
The cost and availability of water in electricity generation is a growing area of concern to the energy sector that will be mitigated with Solar Tower zero water use technology that will stand apart from fossil fuel and renewable energy generators that consume billions of gallons of potable water annually in electricity generation.
Solar Tower development appeals to SCPPA participants as energy production that can be delivered into the SCPPA transmission network for steady and predictable supply output to coincide with the SCPPA participants daily load requirements. Solar Tower power station generation characteristics will cost effectively enable SCPPA participants to manage their allocation of power from a Solar Tower power station.
SCPPA approval of this PPA follows rigorous review undertaken by SCPPA as a result of its pursuit of viable renewable energy supplies for its constituents through power purchase agreements with leading energy technology innovations such as the Solar Tower.
SCPPA is a California joint power authority consisting of eleven municipal utilities and one irrigation district. Its members deliver electricity to approximately two million metered accounts over 7,000 square miles to a population of nearly five million people.
"It's electrifying that SCPPA will be the first to purchase power from the world's first Solar Tower power station!" Mr. Davey said.
SOURCE EnviroMission Limited