Iberdrola Renewables and Salt River Project Sign Their Third Renewable Energy Accord

Iberdrola Renewables and Salt River Project have entered into a 25 year power purchase accord over a 20 MW solar PV power production facility located at Copper Crossing Solar Ranch in Pinal County. The power produced from the facility will be purchased by SRP for distributing it to its 3,100 clients.

The land where the Copper Crossing Solar Ranch is to be located is owned by SRP and it will be given to Iberdrola Renewables on a long term lease. The 20 MW solar plant is the third green energy power project in which both the companies have partnered together. Earlier Iberdrola Renewables and SRP had jointly completed the phase 1 of the Dry Lake Wind Farm project in October 2009 and the phase 2 of the wind project is expected to get completed during the earlier part of 2011. The experience gained by Iberdrola Renewables in wind power development has prompted and enabled the company to bring about a range of solar solutions. The current power purchase agreement made by Iberdrola Renewables with SRP is Iberdrola’s first solar venture in the U.S. The company is looking forward to sign more such agreements for an extended duration with other power utility clients.

Martin Mugica, Iberdrola Renewables’s Executive Vice President, and Richard Silverman, General Manager of SRP expressed their happiness to continue the alliance that helps in the development of renewable clean energy.