Dec 23 2009
Florida Public Service Commission has approved Energy 5.0’s solar power supply contract with Tampa Electric Company on December 15, 2009. A 25-megawatt solar photovoltaic power plant, Florida Solar I Project, is to be constructed by Energy 5.0. The entire power produced in this project will be purchased by Tampa Electric from the beginning of 2011 for a period of 25 years.
Under the terms of agreement between Energy 5.0 and Tampa Electric, the renewable energy plant will be constructed, owned and operated by Energy 5.0. For the agreement period of 25 years, Tampa Electric will purchase the entire output from the renewable generating facility at fixed per kilowatt hour price. In addition, all the environmental attributes related to the renewable energy will rest with Tampa Electric as per the agreement. This solar photovoltaic plant will produce enough electricity to power 3,400 homes and will displace more than 1.2 million tons of carbon dioxide emissions over the contract period.
The site for the Florida Solar I Project measures approximately 350 acres, which is a reclaimed phosphate mine, and is located in Polk County. A competitive bidding process is being planned by Energy 5.0 for the selection of PV technology and contractor to execute the installation of the project as per design.
Bud Cherry, Chairman and CEO of Energy 5.0, said that the company is delighted with the Florida Public Service Commission’s decision. To make renewable energy a reality in Florida, Bud Cherry said that the company is pleased to be working with Tampa Electric. He further added that to achieve a balanced energy generation portfolio, solar energy is one of the keys and the approval from the commission advances Floridians and the country toward an energy independent future.