California’s public power utility, Modesto Irrigation District (MID), will expand and extend its existing power purchase agreement (PPA) with Iberdrola Renewables. The new agreement covers the extension of the current 25 MW power supply contract to the end of June 2015. From 1 July 2015 through the subsequent thirteen years, Iberdrola Renewables will supply 50 MW of wind power.
The extension and expansion of the contract will allow MID to realize its goal of sourcing 20% of its energy needs from renewable resources by 2017, in light of California’s changing renewable energy targets. Currently, the company’s energy portfolio comprises 19% renewable energy.
According to Iberdrola Renewables’ vice president of origination, while the new contract underlines strong and continuous demand in the renewable energy market, it also demonstrates the Iberdrola Renewables’ ability to meet the rise in demand.