Scout Clean Energy, a Colorado-based renewables company, signed a virtual power purchase agreement (VPPA) with AdventHealth for a 90-megawatt (MW) portion of Scout’s Heart of Texas wind farm, according to a Feb. 1 press release.
The project is expected to generate 380,000 megawatt-hours of renewable energy electricity annually to support 40% of AdventHealth’s electricity needs.
Heart of Texas is a 180 MW wind farm located near McCullock County, Texas. The wind farm consists of 64, 300-ft tall wind turbines supporting 18 landowners. Based on a U.S. EPA calculator, the Heart of Texas farm generates enough clean energy for the ERCOT grid to power approximately 67,000 homes, the release stated.
“VPPAs are a powerful opportunity to address a leading cause of climate change quickly and positively – greenhouse gas emissions from electricity generation,” said Rob Roy, senior vice president and chief investment officer for AdventHealth.
Heart of Texas is owned and operated by Scout Clean Energy, a portfolio company managed by Brookfield Asset Management, a global leader of renewable power and decarbonization solutions.
Recommended Reading
Enverus: 1Q Upstream Deals Hit $51B, but Consolidation is Slowing
2024-04-23 - Oil and gas dealmaking continued at a high clip in the first quarter, especially in the Permian Basin. But a thinning list of potential takeout targets, and an invigorated Federal Trade Commission, are chilling the red-hot M&A market.
Mighty Midland Still Beckons Dealmakers
2024-04-05 - The Midland Basin is the center of U.S. oil drilling activity. But only those with the biggest balance sheets can afford to buy in the basin's core, following a historic consolidation trend.
Life on the Edge: Surge of Activity Ignites the Northern Midland Basin
2024-04-03 - Once a company with low outside expectations, Surge Energy is now a premier private producer in one of the world’s top shale plays.
EIA: Permian, Bakken Associated Gas Growth Pressures NatGas Producers
2024-04-18 - Near-record associated gas volumes from U.S. oil basins continue to put pressure on dry gas producers, which are curtailing output and cutting rigs.
Mesa III Reloads in Haynesville with Mineral, Royalty Acquisition
2024-04-03 - After Mesa II sold its Haynesville Shale portfolio to Franco-Nevada for $125 million late last year, Mesa Royalties III is jumping back into Louisiana and East Texas, as well as the Permian Basin.