Cooperative Will Receive Full 30 MW of Output for 25 Years
United Power, Inc. (United Power), an electric cooperative serving Colorado’s northern Front Range, and Whetstone Power LLC (Whetstone) announce the signing of a power purchase agreement on July 27. Under the 25-year agreement, United Power will receive all the output of Whetstone’s Solar of Alamosa project beginning in May 2024.
“United Power is excited to commit to purchase the power generated by this proven solar project, at an attractive and stable price,” stated Mark A. Gabriel, President and CEO of United Power. “United Power will be able to immediately add 30 MW of renewable energy to our power portfolio, without having to go through the process of developing a new greenfield generation facility. The mix of power that cooperative members receive will be cleaner and more economical from day one of this contract.”
Whetstone and funds managed by Rosemawr Management acquired the 30 MW-ac Solar of Alamosa project in June 2022. Located in Alamosa in Colorado’s San Luis Valley, the innovative project used concentrated solar technology when it was initially developed in 2012. The facility’s current panels, inverters, and other components are scheduled to be replaced and modernized throughout 2024 to achieve optimum power output going forward.
“We are proud of the opportunity to serve United Power and the long-term partnership we have developed to provide renewable energy from the Solar of Alamosa facility,” said Collin Franceschi, Whetstone founding partner.
The solar project has been producing clean, renewable power for more than a decade, converting solar energy to electricity on one of Colorado’s highest elevation plateaus. The installation boasts that, at an elevation of approximately 7,500 feet above sea level, it receives some of the highest irradiance in the country.
“Rosemawr continues to be excited about the opportunities in renewable energy, and we very much look forward to this next chapter for the Solar of Alamosa facility with United Power,” said Josh Herlands, Rosemawr’s Head of Renewable Energy and Sustainable Infrastructure.
United Power serves nearly 110,000 meters and maintains and operates over 6,500 miles of distribution line. The 900-square mile service territory wraps around the north and west borders of the Denver International Airport. It includes the north and northeast metropolitan development corridors along Interstate 25, Interstate 76, State Highway 85, and E-470 and the Golden Gate and Coal Creek canyons, two of Colorado’s most iconic and historic mountain canyons. As a result of its geographic location, United Power’s system is experiencing significant demand and energy growth, averaging approximately 6% annually.
United Power is building a power portfolio ahead of leaving its current power supplier on May 1, 2024. The cooperative recently announced agreements with Guzman Energy and Ameresco for portfolio assets related to this exit. To learn more about United Power’s power supply transition, visit Power Supply.
About United Power
United Power is a member-owned, not-for-profit electric cooperative, delivering electricity to homes, farms, and businesses throughout Colorado’s northern Front Range. The cooperative is one of the fastest-growing electric co-ops in the nation, and in June 2021 joined the elite ranks of cooperatives serving more than 100,000 meters. The 900-square mile service territory extends from the mountains of Coal Creek and Golden Gate Canyon, along the I-25 corridor and Carbon Valley region, to the farmlands of Brighton, Hudson, and Keenesburg. United Power is also a founding member of the NextGen Cooperative Alliance, which is dedicated to expanding the power supply and procurement options available to distribution co-ops and reforming the traditional generation and transmission business model. For more information about United Power, visit www.unitedpower.com or follow the cooperative on Facebook, Twitter, LinkedIn, YouTube, and Instagram.
About Whetstone Power
Whetstone Power shapes and facilitates the sustainable energy transition one project at a time through project development, asset management, and advisory services. Whetstone thrives on solving complex problems by leveraging the experience of its leadership to provide comprehensive and unique solutions to solve utility, institutional, commercial, and industrial customer energy supply and infrastructure needs. This includes solar, storage, and conventional generation assets in both greenfield development and project redevelopment opportunities. For more information, visit www.whetstonepower.com; and for inquiries, please contact collin@whetstonepower.com.
About Rosemawr Management
Rosemawr Management is an established investment firm focused on the sustainable infrastructure, municipal, not-for-profit, and charter school sectors. Rosemawr was founded in 2008 and currently has approximately $1.3 billion in assets under management. The firm's solar project portfolio currently includes investments in over 100 sustainable infrastructure energy projects located across 14 states, plus numerous investments across property assessed clean energy (PACE), wind energy, and other technologies. For more information, visit www.rosemawr.com; and for inquiries, please contact sustainable@rosemawr.com.
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