ANDREWS COUNTY, Texas —January 30, 2020— A ribbon cutting today in West Texas made it official: The 100-megawatt Lapetus Solar project is up and running, and CoServ has begun purchasing electricity from it.
“It’s an exciting addition to our portfolio,” said Gary Franzen, CoServ’s Director of Energy Services. “It gives us a stable price for energy over the next 15 to 20 years for that portion of our energy supply, and this will help reduce CoServ’s exposure to volatility in the wholesale market.”
The energy generated from the Lapetus Solar project will be delivered to the ERCOT grid, and it is being sold under three multiyear power purchase agreements to Brazos Electric Power Cooperative Inc. on behalf of CoServ Electric and seven other distribution cooperatives.
The project, which went into commercial operation in December 2019, represents the largest single PPA to date in Texas between an electric cooperative and a solar facility. CoServ will buy up to 52 MW from the 100 MW solar farm, providing Members with renewable energy generated by the West Texas sun.
Lapetus Solar is located about an hour northwest of Midland, and it features more than 340,000 solar panels across 800 acres. It was developed by Austin-based 7X Energy in 2018 and acquired by Duke Energy Renewables in February 2019. To date, it is the largest of Duke's operational solar projects in Texas.
In addition to the 286,452 MWh of electricity it is forecast to produce this year, the Lapetus project employed more than 200 individuals and is expected to generate $20 million in local property tax revenue over the life of the facility.
ABOUT COSERV: CoServ is an electric and natural gas distribution company serving North Texas. Incorporated as Denton County Electric Cooperative in 1937, CoServ Electric is one of the largest electric cooperatives in the country, serving more than 250,000 electric meters across Denton, Collin and four other North Texas counties. CoServ Gas was established in 1998 and serves more than 130,000 gas meters in Denton, Collin and Kaufman counties. CoServ’s mission is to deliver excellent service to our Members and Customers by providing safe and reliable energy solutions.
ABOUT BRAZOS: Brazos Electric Power Cooperative, Inc. is the largest electric generation and transmission cooperative in Texas. Based in Waco, it supplies electricity to CoServ and 15 other member cooperatives throughout Texas.