SPY437.86+4.23 0.98%
DIA342.50+3.39 1.00%
IXIC14,896.85+150.45 1.02%

Energy Transfer Reports Signed 15-Year Power Purchase Deal With SB Energy For 120 MW Of Electricity From Its Eiffel Solar Project In Northeast Texas

Energy Transfer (NYSE:ET) announced today it signed a 15-year Power Purchase Agreement (PPA) with San Francisco-based SB Energy for 120 megawatts of electricity from its Eiffel Solar project in northeast Texas. Energy

Benzinga · 09/01/2021 08:33

Energy Transfer (NYSE:ET) announced today it signed a 15-year Power Purchase Agreement (PPA) with San Francisco-based SB Energy for 120 megawatts of electricity from its Eiffel Solar project in northeast Texas. Energy Transfer is a Fortune 100 midstream energy company based in Dallas.

“We are pleased to announce this PPA with SB Energy,” said Tom Mason, head of Energy Transfer’s Alternative Energy Group. “It is our second significant agreement to purchase low-cost solar power to help us meet our ERCOT load requirements for our operations throughout Texas. The first was the Maplewood 2 solar farm in the Permian Basin that came online earlier this year.”

“SB Energy is focused on accelerating the global energy transition with the real work starting on the ground with innovative projects like Eiffel Solar and exceptional partners like Energy Transfer. The Eiffel resource is a key project to serving rapidly increasing demand for reliable, clean energy,” said Rich Hossfeld, co-CEO of SB Energy.

SB Energy, a wholly owned subsidiary of SoftBank Group Corp., is scheduled to begin construction of the 200-megawatt Eiffel Solar project located in Lamar County the first half of 2022. The project will start to deliver energy to Energy Transfer in January of 2024.