A bright power deal was struck this week when Apple committed $848 million to purchase clean energy from First Solar’s California Flats Solar Project in Monterey County, Calif. Apple will receive electricity from 130 MW AC of the solar project under a 25-year power purchase agreement (PPA), the largest agreement in the industry to provide clean energy to a commercial end user according to First Solar.
“Apple is leading the way in addressing climate change by showing how large companies can serve their operations with 100 percent clean, renewable energy,” said Joe Kishkill, chief commercial officer for First Solar. “Apple’s commitment was instrumental in making this project possible and will significantly increase the supply of solar power in California. Over time, the renewable energy from California Flats will provide cost savings over alternative sources of energy as well as substantially lower environmental impact.”
Construction of the 2,900-acre California Flats Solar Project is expected to begin in mid-2015 and to be completed by the end of 2016. The output of the remaining 150 MW of the project will be sold to Pacific Gas & Electric under a separate long-term PPA, and the project is fully subscribed between the Apple and PG&E PPAs.