Ashtrom Renewable Energy, a global independent power producer and renewable energy developer, and a subsidiary of Ashtrom Group, has entered into a Power Purchase Agreement (PPA) with CPS Energy, the municipal utility provider of San Antonio, Texas. Under the agreement, CPS Energy (Aa2 Moody’s) will purchase approximately 70% of the electricity generated by Ashtrom’s El Patrimonio solar project, along with Renewable Energy Certificates (RECs), at a predetermined fixed price for a period of 20 years. The remaining electricity produced by the project will be sold within Texas’s open electricity market.
The El Patrimonio solar project, which is expected to begin commercial operations in the second half of 2027, will have an estimated capacity of approximately 150 megawatts (AC). Located in Bexar County, Texas, the project will generate clean energy equivalent to the annual consumption of around 37,500 households. This marks Ashtrom Renewable Energy’s second solar project in Texas, reinforcing the company’s expansion in the ERCOT market. The completion of the PPA will facilitate the development and construction of the project, ensuring its timely execution.
Yitsik Mermelstein, CEO of Ashtrom Renewable Energy, mentioned “We are proud to announce a significant collaboration and the signing of an important agreement with CPS Energy, the largest municipal utility company in the U.S. The agreement is not only an expression of our great partnership with CPS Energy, but also a central pillar in realizing our strategic vision to expand renewable energy activities in the country. This step strengthens our position as a leading player in the industry and is a significant milestone in the company’s growth journey.”
In addition to supplying renewable energy to San Antonio, the El Patrimonio project will contribute to the local economy and community through various educational and outreach initiatives. Ashtrom Renewable Energy has committed to establishing an annual scholarship program, providing field tours of the El Patrimonio site for students, and hosting on-site job fairs. These efforts aim to enhance public understanding of renewable energy and encourage community participation in the transition to sustainable power sources.
