March 5 (Solar) – Not-for-profit electric generation and transmission (G&T) cooperative Wabash Valley Power has signed a 30-year contract to purchase the output of a 99-MW solar farm in Illinois, it was announced today.
New York-based utility-scale solar developer Ranger Power will build the Prairie State Solar Project on privately owned land in Perry County, Illinois. While the plant’s entire power generation will be bought by the cooperative, the associated renewable energy credits (RECs) will be sold through the Illinois Power Agency REC procurement process.
It is expected that Ranger Power will break ground on the project in late 2019 and will have the solar plant up and running in 2021. The total cost of the scheme is estimated to be close to USD 100 million (EUR 81m).
“Declining prices of utility-scale solar, coupled with the state government’s commitment to creating in-state energy jobs, enabled us to provide the most cost-competitive solar power purchase agreement in Illinois history,” said Adam Cohen, CEO of Ranger Power.
Upon completion, the Prairie State Solar Project will more than double the statewide solar capacity given that Illinois currently has 81.5 MW in total. A state law that went into effect last year requires at least 4,300 MW of new solar and wind energy to be built by 2030.
(USD 1.0 = EUR 0.810)