New successes for the internationally active project developer JUWI from Wörrstadt: In the US state of Colorado, where the US branch of JUWI Inc. is also located, JUWI is currently building three photovoltaic projects with a total output of more than 500 megawatts (DC). While the "Spanish Peaks" project has been under construction since the end of last year, negotiations have now been completed regarding the purchase of two additional PV projects by the Colorado energy supplier Tri-State. Now construction will begin there soon.
Axial Basin Solar is a 186 megawatt (DC) (MW) project in Moffat County in the White River Electric Association service area, approximately 250 miles northwest of Denver. Dolores Canyon Solar is a 141 MW (DC) project in Dolores County in the Empire Electric Association service area, approximately 400 miles southwest of Denver. JUWI CEO Carsten Bovenschen is pleased with the success: "Both projects show once again how our 30 years of expertise contribute to climate protection worldwide and thus to greater sustainability."
The purchase of the two projects is definitely a novelty for the US non-profit wholesale electricity supplier: For the first time, Tri-State Generation and Transmission Association has purchased renewable projects to serve its member cooperatives. The not-for-profit wholesale power supplier has closed on the purchase of two solar projects in western Colorado with JUWI Inc. Both solar projects are scheduled to begin delivering power for Tri-State's member systems in late 2025, reaching the significant milestone of 50% renewable energy use by Tri-State's members. Financial terms of the acquisitions were not released.
"Through Tri-State, our members now have ownership in solar at a competitive cost," said Duane Highley, chief executive officer for Tri-State. "We greatly appreciate JUWI's work with our team to complete this transaction for the purchase of these two solar projects."
"JUWI is excited to be working with Tri-State on two of the first 100+MW solar projects in western Colorado," said Steve Ihnot, chief financial officer for JUWI Inc. "We look forward to executing the projects with the shared values of safety, quality, coordination with the local communities, and value to the customers." Stephan Hansen, COO responsible for the international JUWI business, adds: "With these two projects we will once again demonstrate our strong competence in project development and implementation. They also show our unique market position in Colorado."
With the passage of the 2022 Inflation Reduction Act (IRA), not-for-profit electric cooperatives can receive direct payment of federal renewable energy tax credits, empowering cooperatives to invest directly in the ownership of renewable resources. Before the passage of the IRA, Tri-State and electric cooperatives in general could not directly benefit from the federal renewable energy tax incentives available to for-profit investor-owned utilities and independent power producers.
"I've worked for years to allow rural electric coops like Tri-State to access federal clean energy tax credits. The passage of the historic Inflation Reduction Act made that possible for the first time, finally allowing them to own renewable energy projects," said U.S. Sen. Michael Bennet, D-Colo. "This progress will help Tri-State deliver enormous benefits to the rural communities it serves and support Colorado's continued leadership in our nation's transition to a clean energy economy." "Senator Bennet's leadership has made a real difference for our members, and for cooperatives across the country," Highley said.
In addition to the projects Tri-State is purchasing, Tri-State is adding another three solar projects PPAs to its resource portfolio which will be completed by the end of 2024. This also includes the "Spanish Peaks" solar farm, which JUWI is currently building in southern Colorado, around 200 miles south of Denver. The output is 179 megawatts (DC), around 50 percent of the construction has already been completed. At the end of 2025, Tri-State will serve its members with 680 MW of solar across eight facilities, with solar power serving the equivalent needs of nearly 200,000 homes.
