CPS Energy has signed a 20-year PPA to buy 60% of the energy from the Tierra Bonita project. (Image Credit/Source: Mark Stebnicki/Pexels)
Ashtrom Renewable Energy, a subsidiary of Ashtrom Group in Israel, has officially commissioned the Tierra Bonita solar project in Pecos County, Texas. The 400 MW (DC) project, spanning 2,200 acres, will generate electricity sufficient to power 75,000 households annually and is anticipated to reduce CO2 emissions by 500,000 tons per year. Ashtrom has signed a 20-year PPA with CPS Energy, securing the sale of 60% (180 MW (AC)) of the electricity generated. In addition, Ashtrom executed a first-of-its-kind tax credit sale agreement under the Inflation Reduction Act, valued at $300 million over 10 years. Tierra Bonita was established at a total cost of $435 million, with Ashtrom investing $165 million in equity. This solar farm is part of Ashtrom’s broader US portfolio, which includes six projects with a total capacity of 1,800 MW.
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