Energy Transfer Signs Power Purchase Agreement With SB Energy for 120 Megawatts of Electricity From Eiffel Solar Project
September 01 2021 - 8:30AM
Business Wire
Energy Transfer’s Second Renewable Energy Power
Purchase Agreement
Energy Transfer (NYSE: ET) announced today it signed a 15-year
Power Purchase Agreement (PPA) with San Francisco-based SB Energy
for 120 megawatts of electricity from its Eiffel Solar project in
northeast Texas. Energy Transfer is a Fortune 100 midstream energy
company based in Dallas.
“We are pleased to announce this PPA with SB Energy,” said Tom
Mason, head of Energy Transfer’s Alternative Energy Group. “It is
our second significant agreement to purchase low-cost solar power
to help us meet our ERCOT load requirements for our operations
throughout Texas. The first was the Maplewood 2 solar farm in the
Permian Basin that came online earlier this year.”
“SB Energy is focused on accelerating the global energy
transition with the real work starting on the ground with
innovative projects like Eiffel Solar and exceptional partners like
Energy Transfer. The Eiffel resource is a key project to serving
rapidly increasing demand for reliable, clean energy,” said Rich
Hossfeld, co-CEO of SB Energy.
SB Energy, a wholly owned subsidiary of SoftBank Group Corp., is
scheduled to begin construction of the 200-megawatt Eiffel Solar
project located in Lamar County the first half of 2022. The project
will start to deliver energy to Energy Transfer in January of
2024.
Energy Transfer LP (NYSE: ET) owns and operates one of
the largest and most diversified portfolios of energy assets in the
United States, with a strategic footprint in all of the major
domestic production basins. ET is a publicly traded limited
partnership with core operations that include complementary natural
gas midstream, intrastate and interstate transportation and storage
assets; crude oil, natural gas liquids (NGL) and refined product
transportation and terminalling assets; NGL fractionation; and
various acquisition and marketing assets. ET also owns Lake Charles
LNG Company, as well as the general partner interests, the
incentive distribution rights and 28.5 million common units of
Sunoco LP (NYSE: SUN), and the general partner interests and 46.1
million common units of USA Compression Partners, LP (NYSE: USAC).
For more information, visit the Energy Transfer website at
energytransfer.com.
SB Energy, a wholly owned subsidiary of SoftBank Group
Corp., is a leading utility-scale solar, energy storage, and
technology platform. We develop, construct, and own and operate
some of the largest and most technically advanced renewable
projects across the United States. SB Energy’s mission is to
provide flexible renewable energy at scale, accelerating the global
energy transition, and benefiting our planet, customers,
communities, and people. For more information, visit
SBEnergy.com.
Forward Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject
to a variety of known and unknown risks, uncertainties, and other
factors that are difficult to predict and many of which are beyond
management’s control. An extensive list of factors that can affect
future results are discussed in the Partnership’s Annual Report on
Form 10-K and other documents filed from time to time with the
Securities and Exchange Commission. In addition to the risks and
uncertainties previously disclosed, the Partnership has also been,
or may in the future be, impacted by new or heightened risks
related to the COVID-19 pandemic, and we cannot predict the length
and ultimate impact of those risks. The Partnership undertakes no
obligation to update or revise any forward-looking statement to
reflect new information or events.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210901005221/en/
Energy Transfer Media Relations 214.840.5820 Vicki
Granado, Alexis Daniel Media@energytransfer.com
Energy Transfer Investor Relations 214.981.0795 Bill
Baerg, Brent Ratliff, Lyndsay Hannah
investorrelations@energytransfer.com
SB Energy Media Relations 626.607.1220
press@sbenergy.com
Energy Transfer (NYSE:ET)
Historical Stock Chart
From Aug 2024 to Sep 2024
Energy Transfer (NYSE:ET)
Historical Stock Chart
From Sep 2023 to Sep 2024