Scout Signs Virtual Power Purchase Agreement with AdventHealth for Texas Wind Farm
Agreement expected to support 40 percent of AdventHealth's electricity needs
BOULDER, Colo., Feb. 1, 2024 /PRNewswire/ -- Scout Clean Energy (Scout), a Colorado based renewable energy developer-owner-operator is pleased to announce they have signed a Virtual Power Purchase Agreement (VPPA) with AdventHealth for a 90-megawatt (MW) portion of Scout's Heart of Texas Wind Farm. This portion of the project is expected to generate 380,000 megawatt-hours (MWh) of renewable electricity annually -- matching approximately 40 percent of AdventHealth's current system-wide electrical needs.
"Scout's Heart of Texas Wind Farm is a wonderful example of how Texas wind energy can bring clean energy to the grid, and tax revenues and employment to the community," said Michael Rucker, chief executive officer and founder of Scout. "We're happy to help deliver on AdventHealth's impressive effort toward achieving 100 percent renewable electricity by 2026, which was key to driving this sizable investment in the renewable economy."
Heart of Texas is a 180 MW wind farm located near McCulloch County, Texas. The wind farm consists of 64 individual 300-foot-tall wind turbines and supports 18 different landowners. Based on a US EPA calculator, the Heart of Texas Wind Farm generates enough clean energy for the ERCOT grid to power approximately 67,000 homes.
"VPPAs are a powerful opportunity to address a leading cause of climate change quickly and positively – greenhouse gas emissions from electricity generation. Reduced emissions improve the health of our team members and the communities we serve, said Rob Roy, senior vice president and chief investment officer for AdventHealth.
Heart of Texas is owned and operated by Scout Clean Energy, a portfolio company managed by Brookfield Asset Management, a global leader of renewable power and decarbonization solutions. Heart of Texas is part of Scout's portfolio of approximately 1,000 MW of operating and under construction wind assets, along with a pipeline of over 19,000 MW of wind, solar and storage projects across 22 states.
Marisa Farabaugh, senior vice president and chief supply chain officer with AdventHealth said this agreement is one of the largest among all US health systems, will help them reduce their environmental impact and support the growth of renewable energy.
Heart of Texas also supports local communities through tax incentive agreements with McCulloch County, McCulloch County Hospital District, and Lohn Independent School District. In total, the economic impact is estimated at $36 million over the life of the project.
About Scout Clean Energy
Scout Clean Energy is a renewable energy developer and owner-operator headquartered in Boulder, Colorado with approximately 1,000 MW of operating and under construction wind assets, and a pipeline of over 19,000 MW of wind, solar and storage projects across 22 states, including more than 2,300 MW of advanced-stage projects. Scout has expertise in all aspects of renewables project development, permitting, power marketing, finance, construction, 24/7 operations, and asset management. For more information, please visit www.scoutcleanenergy.com
About Brookfield
Brookfield Asset Management (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with over $850 billion of assets under management. Brookfield invests client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. Brookfield offers a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.
Brookfield operates Brookfield Renewable Partners (NYSE: BEP, BEPC TSX: BEP.UN, BEPC), one of the world's largest publicly traded, pure-play renewable power platforms, with approximately 31,800 megawatts of installed renewable energy capacity and a development pipeline of approximately 143,400 megawatts of renewable power assets, 14 MMTPA of carbon capture and storage, 2 million tons of recycled material and 4 million metric million British thermal units of renewable natural gas production annually.
CONTACT: Chad Thompson
chad@scoutcleanenergy.com
901.331.0779
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SOURCE Scout Clean Energy
