First Solar has won approval from the NM Public Regulation Commission of a power purchase agreement that would sell electricity from its 50 MW Macho Springs solar array for 5.79 cents per kwh. Here is the story from Bloomberg.
El Paso Electric Co. (EE) agreed to buy power from First Solar’s the 50-megawatt Macho Springs project for 5.79 cents a kilowatt- hour, according to a Jan. 22 procedural order from the New Mexico Public Regulation Commission. That’s less than half the 12.8 cents a kilowatt-hour for power from typical new coal plants, according to models compiled by Bloomberg.
The story continues –
The Macho Springs rate would be “the lowest solar power purchase agreement price we have ever seen,” Aaron Chew, an analyst at Maxim Group LLC in New York, said in an e-mail. It’s less than half the rate that First Solar will get for its Antelope Valley, Topaz, and Agua Caliente projects, he said.