The IREA Board of Directors voted in November to approve an agreement to purchase 30 megawatts of solar power from a planned utility-scale facility in Kiowa.
The agreement with Cypress Creek Renewables allows IREA to purchase energy from the project for 20 years at a fixed amount lower than IREAâ€™s avoided cost, which is what the Association otherwise would pay for the same amount of energy from other sources. IREA also will have the option for two five-year extensions beyond the initial 20-year term.
The facility, which has been dubbed Sundance Solar, is planned to enter operation by the end of 2020. The 30 megawatts IREA draws from it will help ensure the association meets renewable energy standards mandated by state law. In 2013, the Colorado General Assembly passed Senate Bill 13-252, which requires that 20% of the energy IREA provides its members as of 2020 be generated from renewable energy sources.