Sempra Infrastructure and Silicon Valley Power sign renewable energy supply agreement
HOUSTON, October 27, 2022 /PRNewswire/ — Sempra infrastructurea subsidiary of sempra (NYSE: SRE) (BMV: SRE) and Silicon Valley Power (SVP) today announced that they have entered into a 20-year power purchase agreement (PPA) for the long-term supply of renewable energy to the City of Santa Clara, California.of the proposed Cimarrón wind project, Sempra Infrastructure’s cross-border wind facility under development in Baja California, Mexico.
Cimarrón is planned to be a 300 megawatt (MW) wind farm that uses Sempra Infrastructure’s existing cross-border high-voltage transmission line to interconnect and supply clean energy to East County’s county substation in San Diego County.
“We are delighted to work with the City of Santa Clarahome to some of the world’s largest technology companies, to provide access to renewable energy that can help meet their energy needs while supporting their sustainable energy goals,” said Justin Bird, CEO of Sempra Infrastructure. “This agreement underscores our commitment to advancing the development of our North American clean energy portfolio as we continue to help create a cleaner energy future.
“Silicon Valley Power continues to make long-term strategic investments in clean energy and add various energy resources to our power portfolio,” said Manuel Pineda, director of electrical services for Silicon Valley Power. “We are excited to partner with Sempra Infrastructure to add clean energy resources to help us meet our sustainability and climate goals.”
Cimarrón is being developed to include approximately 60 wind turbines with the capacity to produce enough energy equivalent to the annual energy consumption of more than 84,000 homes and is expected to reduce greenhouse gas emissions by nearly 210,000 metric tons. carbon dioxide equivalent (CO2-eq) per year. Construction of the new facility is expected to create more than 2,000 direct and indirect jobs in Mexico with additional investment in the local community as part of Sempra Infrastructure for corporate donations as part of the company’s commitment to the communities where it operates.
Cimarrón’s development is subject to a number of risks and uncertainties, including obtaining all necessary business agreements and permits and other factors, including making a final investment decision.
Promote cleaner energy
As one of the leading producers of clean energy in MexicoSempra Infrastructure focuses on the development of infrastructure to support the deployment of cleaner energy and the expansion of energy networks in North America. Sempra Infrastructure owns and operates over 1,000 MW of renewable capacity from two wind power plants and five solar parks. Together, these projects have generated more than 2.5 million MWh of net renewable energy in 2021, which is equivalent to reducing emissions by more than 1 million tonnes of CO2.
About Sempra Infrastructure
Sempra Infrastructure provides energy for a better world. Thanks to the combined strength of its strengths in North America, the company is dedicated to enabling cleaner energy for its customers. With a focus on sustainability, innovation, world-class security, defending people, resilient operations and social responsibility, its more than 2,000 employees develop, build and operate clean energy, power grids and energy and LNG and net zero solutions, which should play a crucial role in the energy systems of the future. For more information on Sempra Infrastructure, please visit http://www.semprainfrastructure.com and Twitter.
About City of Santa Clara
Located in the heart of Silicon Valley, approximately 45 miles south of San Franciscothe City of Santa Clara is truly “The center of what is possible”. Incorporated in 1852, Santa Clara covers an area of 19.3 square miles with a population of 129,498. Santa Clara is home to an extraordinary array of high-tech companies, including Applied Materials, Intel, Nvidia, Oracle and Ericsson. The City of Santa Clara also houses Santa Clara University, California Great America Theme Park and Levi’s® Stadium, home of the San Francisco 49ers and Super Bowl 50. For more information, visit SantaClaraCA.gov.
About Silicon Valley Power
Silicon Valley Power (SVP) is the registered trademark adopted by the non-profit municipal electric utility of Santa Clara, California, serving residents and businesses for over 125 years. SVP provides electricity to nearly 55,000 customers at rates 25-48% lower than neighboring communities. SVP is the only vertically integrated full-service utility in Silicon Valley that owns generation, transmission and distribution assets. For more information, visit SiliconValleyPower.com.
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties and are not guarantees. . Future results may differ materially from those expressed or implied by the forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors.
In this press release, forward-looking statements can be identified by words such as “believes”, “expects”, “intends”, “anticipates”, “intends”, “plans”, “estimates”. “, “plans”, “plans”, “should”, “could”, “should”, “should”, “confident”, “may”, “may”, “potential”, “possible”, “proposed” , “ongoing”, “under construction”, “develop”, “opportunity”, “target”, “outlook”, “maintain”, “continue”, “progress”, “move”, “goal”, “aim “, “commit” or similar expressions, or when discussing our directions, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations.
Factors, among others, that could cause actual results and events to differ materially from those expressed or implied by any forward-looking statement include risks and uncertainties relating to decisions, investigations, regulations, issuances or revocations of licenses and other authorizations, and other actions by (i) the United States Department of Energy, the Comisión Reguladora de Energía, the United States Federal Energy Regulatory Commission and other regulatory and governmental agencies and (ii) the United States, Mexico and the states, counties, cities and other jurisdictions of these and other countries in which we do business; the success of business development efforts, construction projects and acquisitions and divestitures, including risks relating to (i) the ability to make a final investment decision, (ii) the completion of construction projects or other transactions on time and on budget, (iii) realizing the anticipated benefits of any of these efforts if successful, and (iv) obtaining the consent or approval of partners or other third parties, including government and regulatory agencies; civil and criminal litigation, regulatory inquiries, investigations, arbitrations, real estate disputes and other proceedings; changes in laws and regulations, including certain from Mexico the laws and rules that have an impact on the authorization of energy suppliers, the tariffs of energy contracts, the electricity industry in general and the import, export, transport and storage of hydrocarbons; cybersecurity threats, including from state and state-sponsored actors, to the energy network, storage and pipeline infrastructure, information and systems used to operate our business, and the confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third parties we do business with, all of which have become more pronounced due to recent geopolitical events and other uncertainties, such as the war in Ukraine; the inability of foreign governments, public entities and our counterparties to honor their contracts and commitments; actions by credit rating agencies to lower our credit ratings or place such ratings on a negative outlook and our ability to borrow on favorable terms and meet our debt service obligations; the impact of energy and climate policies, laws, rules and disclosures, and related goals and actions of companies in our industry, including actions to reduce or eliminate reliance on natural gas generally and the risk of non- -recovery of blocked assets; the pace of development and adoption of new technologies in the energy sector, including those designed to support the energy and climate objectives of governments and private parties, and our ability to integrate them in a timely and cost-effective manner into our activities ; weather conditions, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system failures or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for damages, fines and penalties, some of which may be disputed or not covered by insurers or may affect our ability to obtain satisfactory levels of affordable insurance; inflationary and interest rate pressures, currency and commodity price volatility, and our ability to effectively hedge these risks; the availability of natural gas; the impact of the COVID-19 pandemic on capital projects, regulatory approvals and execution of our operations; changes in tax and trade policies, laws and regulations, including tariffs, revisions to international trade agreements and sanctions, such as those that have been imposed and may be imposed in the future under the war in Ukraine, which may increase our costs, reduce our competitiveness, impact our ability to do business with certain counterparties or impair our ability to resolve commercial disputes; and other uncertainties, some of which are difficult to predict and beyond our control.
These risks and uncertainties are discussed in more detail in the reports that Sempra has filed with the United States Securities and Exchange Commission (SEC). These reports are available free of charge through the EDGAR system on the SEC’s website, www.sec.govand on the Sempra site, https://www.sempra.com/. Investors should not place undue reliance on forward-looking statements.
Sempra Infrastructure is not the same company as San Diego Gas & Electric Company or Southern California Gas Company, and neither Sempra Infrastructure nor any of its subsidiaries is regulated by the California Public Utilities Commission.
SOURCE Sempra Infrastructure