Honda unveils 320 MW of US wind, solar VPPAs

Honda (TYO:7267) will be buying 320 MW of wind and solar power for its North American manufacturing operations, it announced on Monday.

The company said on Monday it has signed two virtual power purchase agreements (VPPAs) with German energy group E.on SE (FRA:EOAN) for electricity from a wind park in Oklahoma and a solar photovoltaic (PV) farm in Texas.

Honda will be getting 530,000 MWh per year from a 120-MW portion of the 150-MW Boiling Springs wind park, starting next autumn. Onsite construction of the project is planned to begin at the start of 2020, while the power plant will become operational by the end of the year. The VPPA here features a “collar structure” which introduces upper and lower bounds on Honda’s exposure to quarterly fluctuations in energy market prices.

Source / More : Renewables Now


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