Solar PPA collapse (2022-2023)
Rising capital costs, supply-chain pressure, and MISO rule changes that cut the winter capacity value of solar forced developers to abandon power purchase agreements signed in 2021. Projects like Bayou Teche and Bayou Chicot lost their contracted buyers.
The market treated uncontracted projects as damaged goods for two years. Developers struggled to find buyers willing to pay enough to make projects viable.
The collapse left a backlog of late-stage projects with grid connections but no buyers, waiting for market conditions to improve.
This deal shows the reversal: data-center demand has made uncontracted late-stage projects valuable again.
