Ashtrom Renewable Energy signs 20-year PPA with CPS Energy for El Patrimonio solar project

The 20-year Power Purchase Agreement between Ashtrom Renewable Energy and CPS Energy for the 200 MW El Patrimonio solar project in South Texas immediately stabilizes the asset's financial outlook during its construction phase. This long-term contract secures predictable revenue streams for the Israeli-based developer for two decades, a critical component for project financing and operational certainty in the United States market. For CPS Energy, the municipal utility serving over 930,000 electric customers in San Antonio and surrounding Texas areas, this PPA guarantees a stable, long-term supply of renewable energy, enhancing its diverse generation portfolio. The agreement, announced on 2026-03-13, establishes a robust commercial framework for the El Patrimonio project's future output. This 200 MW solar project in South Texas expands Ashtrom Renewable Energy's global footprint, contributing to its existing portfolio of approximately 3 GW of solar PV and onshore wind projects. The Israeli-based developer, a subsidiary of Ashtrom Group, continues to secure long-term off-take agreements for its assets under construction, a strategy evident with this 20-year PPA. Meanwhile, CPS Energy, which provides electric and natural gas services to over 930,000 electric customers and 380,000 natural gas customers in San Antonio, Texas, further diversifies its generation mix. The municipal utility's long-term commitment to the El Patrimonio solar project directly supports its mandate to serve its Texas customer base with reliable and varied energy sources.