Industry Analysis
Apr 29, 2024

Load Growth Drives West Hub Wind Matches

Market participants on RenewaFi matched on two distinct wind PPAs at West Hub in recent weeks.

The first deal, for 50 MW, has a July 2024 start date and will last 5 years. 

The second deal, for 80 MW, also has a July 2024 start date and will last 7 years.

The matches come following a steep increase in the value of ERCOT renewables in recent weeks, according to the RenewaFi Price Tracker. 

The increase is likely driven by the release of an ERCOT presentation forecasting 62 GW of additional load growth by 2030, bringing the total expected peak load by then to 152 GW.

"The new load forecast" said ERCOT president Pablo Vegas at a recent board meeting, "creates significant investment opportunities for balanced generation growth to serve."

Offtakers on our marketplace agreed. They said the increased load growth projection is pushing the expected future value of electricity higher, which is creating opportunities to transact renewables.

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