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Classified in: Environment
Subject: Contract/Agreement

EDF Renewables North America Signs Agreement with El Paso Electric for Solar+Storage Project

EDF Renewables North America today announced the execution of a 20-year Power Purchase Agreement (PPA) with El Paso Electric (EPE).The PPA covers the output from the 150 MWac Milagro Solar and the 75 MW / 300 MWh Milagro Storage Project, which are slated for commercial operation in 2025.

The Milagro Solar+Storage project, located on undeveloped private land in the Santa Teresa area of Do˝a Ana County, New Mexico, expects to create approximately 200 jobs during the peak construction phase. Over the operating life of the project, approximately $7.9 million in tax revenue will be generated for three school districts and Do˝a Ana flood control authority supported under the Industrial Revenue Bond (IRB).

"We are very pleased to partner with El Paso Electric and contribute to its commitment to provide responsible, sustainable, and reliable energy to its customers," said Matthew Beltz, Director, Origination & Power Marketing at EDF Renewables. "We are excited to build our first solar+storage project in New Mexico and to support EPE as the project delivers long-term price stability, stimulates economic growth, and reduces emissions."

"The Milagro Solar+Storage project reflects our commitment to transform the energy landscape and expand our renewable energy portfolio," shared Kelly Tomblin, El Paso Electric President and Chief Executive Officer. "Simultaneously, it furthers our overall plan to increase our generation resources in order to meet our region's growing energy needs. We are determined to continue our legacy of reliability while we maintain affordability and minimize our environmental impact."

In addition to its economic benefits, Milagro Solar+Storage expects to generate approximately 469,500 MWh of clean energy annually. This is equivalent to avoiding over 333,000 metric tons of carbon (CO?) emissions annually which represents the greenhouse gas emissions from over 74,000 passenger vehicles driven over the course of one year1.

EDF Renewables, one of the largest renewable developers in North America, is committed to providing solutions to meet our customer's carbon-reduction goals. With 35 years of experience and 16 gigawatts of wind, solar, and storage projects developed, EDF Renewables in North America provides integrated energy solutions from grid-scale power to electric vehicle charging.

1 According to U.S. EPA Greenhouse Gas Equivalencies calculations and typical transmission assumptions.

EDF Renewables North America is a market leading independent power producer and service provider with 35 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distribution-scale power: solar and storage; asset optimization: technical, operational, and commercial expertise to maximize performance of generating projects, and onsite solutions, through the Company's PowerFlex subsidiary, offering a full suite of onsite energy solutions for commercial and industrial customers: solar, storage, EV charging, energy management systems, and microgrids. EDF Renewables' North American portfolio consists of 16 GW of developed projects and 13 GW under service contracts. EDF Renewables North America is a subsidiary of EDF Renewables, the dedicated renewable energy affiliate of the EDF Group. For more information visit: www.edf-re.com. Connect with us on LinkedIn, Facebook and Twitter.

El Paso Electric is a regional energy provider that is engaged in generation, transmission and distribution service to approximately 460,000 customers in a 10,000-square mile area of the Rio Grande valley in west Texas and southern New Mexico.

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