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June 23, 2021

Guzman Energy and Leeward sign PPA for Panorama Wind Farm

The Panorama Wind Farm will power around 53,000 homes with clean energy and bring economic benefits to Weld County.

By Umesh Ellichipuram

US-based renewable energy company Guzman Energy has signed a power purchase agreement (PPA) with Leeward Renewable Energy for the Panorama Wind Farm in Colorado.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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The 145MW wind farm will be Leeward’s third project in Weld County and is expected to support Colorado’s goal of fully renewable energy generation by 2040.

Guzman Energy CEO Chris Riley said: “Electric cooperatives, municipalities and tribes are clear that they want access to affordable, reliable and clean energy.

“The Panorama Wind Farm will be an important source of power for our current and future customers in Colorado, New Mexico and Wyoming who are seeking reliable power at reliable prices.

“It makes strategic sense for Guzman Energy to be part of the Panorama Wind Farm as we continually leverage both owned and contracted energy sources to meet our customers’ needs.”

The facility will be equipped with more than 60 wind turbines, which will be supplied and commissioned by Vestas-American Wind Technology.

Construction works at the site are expected to begin next month, with the project due to be completed by the end of this year.

In its construction phase, the project is expected to create a total of 185 jobs.

Upon completion, the wind farm will generate enough clean energy to power around 53,000 homes.

A portfolio company of OMERS Infrastructure, Leeward will own and operate the Panorama Wind Farm.

The project will increase Leeward’s total installed capacity in the county to 617MW, reflecting more than $850m of aggregate capital investment.

Leeward Renewable Energy CEO Jason Allen said: “Leeward is pleased to partner with Guzman and provide an important source of affordable, clean power to its customers in communities across Colorado, New Mexico and Wyoming.

“In addition to helping Colorado meet its green energy goals, this agreement is a testament to the momentum of our ambitious growth plan and continued commitment to wind power.”

Related Companies

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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