Rio Tinto Kennecott signs wind power deal with Texas

With a goal of continuing decarbonization, Rio Tinto Kennecott on Thursday announced it signed a 15-year virtual power purchase agreement with TerraGen for renewable energy from a newly completed wind farm in Texas.

Through a virtual power agreement, the parties enter into a long-term financial agreement where the buyer (Kennecott) agrees to ensure the project earns a fixed price when the electricity is sold in a wholesale market.

As far as details go, Kennecott will purchase 78.5 megawatts of renewable energy generated by TerraGen’s 238.5 megawatt Monte Cristo I wind power project.

Monte Cristo I is expected to generate more than 850 gigawatt-hours of clean electricity annually, enough to power approximately 81,000 homes each year. View Comments

Nate Foster, Kennecott’s managing dire