At CleanPath, we understand that not all kilowatt hours are created equally. Whether it is the output profile, cost of power, or location on the grid, utilities are keen to pursue projects that meet their high standards and withstand the test of time. We also understand that the 3,200+ utilities in the US alone each have distinct energy needs, priorities, and goals. That is why CleanPath’s focus is not necessarily to sell power to utilities, but partner with them to deliver high-quality energy solutions. CleanPath works with the various investor-owned, publicly-owned, cooperative, and Federal electric utilities through the following mechanisms:
Power Purchase Agreements: A Power Purchase Agreement (PPA) is a financial arrangement in which a third-party owns, operates, and maintains the photovoltaic (PV) system, and a utility agrees to purchase the system’s electric output from the solar services provider for a predetermined period. CleanPath’s leaders have been instrumental in the development of the solar PPA, which has become the most widely used instrument in the marketplace to this day.
Build to Own: Utilities have a portfolio approach to their power supply, and as such, building their own assets substantially mitigates the risk of rising power costs. Whether it is because of their strong balance sheets, RPS compliance, or power cost risk mitigation, utilities have a need and a unique ability to build and own solar assets. Having developed, built, and financed more than 2,100+ MWs successfully, while developing up to 4,000+ MWs of wind, biomass, and solar PV, the CleanPath team has a strong track record in getting projects to the finish line.
Joint Development and Transfer Arrangements: CleanPath understands that each utility has unique governance structures, power needs, and compliance rules which affect how they participate in projects. CleanPath looks to partner with a utility to jointly develop, build, and transfer an asset to a utility. CleanPath’s creative leadership and financial flexibility translates into a solutions-oriented approach to working jointly with utilities to serve their needs.