GCL New Energy, Inc., a subsidiary of GCL Group, has signed a long-term power purchase agreement with Intermountain Rural Electric Association (IREA) for its Pioneer 110MW greenfield project in Colorado.
The Pioneer 110MW project is located on 611-acre site 35 miles east of Denver, Colorado. The total annual yield of the Pioneer project is around 215 million kWh, and plans to call for connection to the grid in 2020. The PPA has a fixed initial contract term of 10 years, with 3 optional 5-year extensions, for a possible 25-year lifetime.
