NPM has identified 22 new projects appearing for the first time in Q2 2026, signalling that these assets have reached commercial operation. The attached sheet provides detailed pricing information and key characteristics for projects approved for market‑based rate (MBR) status and deemed commercially viable.

Additionally, our analysis of Q2 2026 data reveals over 80,000 transactions from newly identified sellers. Leveraging AI, we detected these new market participants and aggregated their transaction data to deliver the insights summarized below.

This is the third time NPM has conducted this analysis to identify new operational projects and their pricing. Across 4Q25 and 1Q26, NPM has identified 95 total projects with power purchasing pricing insight.

USD 1.35 billion in transactions across the 22 sellers. The top 3 states by number of projects newly identified included California (4), Illinois (3), and Arizona (2).

You can access all 80,000 transactions in excel format here.

• 1000 Mile Solar, LLC sold 65,551.16 MWh of electricity to Southwest Power Pool for USD 1,694,400.97 at an average price of USD 25.85/MWh, with prices ranging from USD 0.00 to USD 228.65/MWh.
• Alpaugh BESS, LLC sold 932.00 MWh of electricity to CAISO for USD 7,989.39 at an average price of USD 8.57/MWh, with prices ranging from USD 0.01 to USD 47.21/MWh.
• Babacomari Solar North LLC sold 138,992.55 MWh of electricity to Tucson Electric Power Company for USD 4,190,625.39 at an average price of USD 30.15/MWh, with prices ranging from USD 30.15 to USD 30.15/MWh.
• CPV Rogue’s Wind, LLC sold 17,952.70 MWh of electricity to PJM Settlement, Inc. and AES Solutions Management, LLC for USD 1,180,748.06 at an average price of USD 65.77/MWh, with prices ranging from USD 0.00 to USD 1,461.66/MWh.
• Cherrywood Solar I, LLC sold 53,078.72 MWh of electricity to PJM Settlement, Inc. and Constellation Energy Generation, LLC for USD 3,059,483.58 at an average price of USD 57.64/MWh, with prices ranging from USD 0.00 to USD 3,736.12/MWh.
• Cooks Mill PV I, LLC sold 70,113.29 MWh of electricity to Midcontinent Independent System Operator, Inc. for USD 1,961,272.25 at an average price of USD 27.97/MWh, with prices ranging from USD 0.01 to USD 976.13/MWh.
• Crooked Creek PV I, LLC sold 69,456.05 MWh of electricity to Midcontinent Independent System Operator, Inc. for USD 1,900,310.74 at an average price of USD 27.36/MWh, with prices ranging from USD 0.01 to USD 827.19/MWh.
• Dusty Rose Wind, LLC sold 285,630.85 MWh of electricity to Public Service Company of Colorado for USD 5,691,221.21 at an average price of USD 19.93/MWh, with prices ranging from USD 15.58 to USD 22.26/MWh.
• Escalante BESS I LLC recorded transactions with PacifiCorp for USD 2,723,199.54
• Heartwood Solar, LLC sold 17,907.65 MWh of electricity to Consumers Energy Company for USD 603,576.05 at an average price of USD 33.70/MWh, with prices ranging from USD 31.15 to USD 40.93/MWh.
• Iron Springs BESS LLC recorded transactions with PacifiCorp for USD 3,091,200.00.
• Lazbuddie Wind Energy LLC sold 25,413.83 MWh of electricity to Southwest Power Pool for USD 586,608.37 at an average price of USD 23.08/MWh, with prices ranging from USD 0.00 to USD 2,106.78/MWh.
• Morgnec Road Solar, LLC sold 412.99 MWh of electricity to PJM Settlement, Inc. for USD 16,541.95 at an average price of USD 40.05/MWh, with prices ranging from USD 23.51 to USD 143.93/MWh.
• Newton Solar BESS LLC sold 40,452.46 MWh of electricity to Dynegy Marketing and Trade, LLC for USD 1,232,561.33 at an average price of USD 30.47/MWh, with prices ranging from USD 0.01 to USD 1,885.40/MWh.
• Nighthawk Energy Storage, LLC sold 16,201.98 MWh of electricity to Tenaska Power Services Co. for USD 428,820.85 at an average price of USD 26.47/MWh, with prices ranging from USD 0.15 to USD 356.04/MWh.
• Pediment BESS I LLC recorded transactions with Salt River Project Agricultural Improvement and Power District for USD 8,687,250.00.
• RE Gaskell West 1 LLC sold 14,684.74 MWh of electricity to Southern California Edison Company for USD 1,105,049.92 at an average price of USD 75.25/MWh, with prices ranging from USD 71.35 to USD 79.58/MWh.
• SE Athos II, LLC sold 49,907.57 MWh of electricity to Exelon Generation Company LLC for USD 582,051.01 at an average price of USD 11.66/MWh, with prices ranging from USD 0.01 to USD 768,000.00/MWh.
• SR Millington II, LLC recorded transactions with Tennessee Valley Authority for USD 1,310,739,503.04.
• Solar PV Development NM 18 II LLC sold 104,867.25 MWh of electricity to El Paso Electric Company for USD 2,539,661.15 at an average price of USD 24.22/MWh, with prices ranging from USD 8.76 to USD 29.96/MWh.
• Two Hearted Solar, LLC sold 11,460.35 MWh of electricity to Duke Energy Carolinas, LLC for USD 618,858.90 at an average price of USD 54.00/MWh, with prices ranging from USD 54.00 to USD 54.00/MWh.
• Yum Yum Solar LLC sold 44,790.70 MWh of electricity to Tennessee Valley Authority for USD 1,951,366.27 at an average price of USD 43.57/MWh, with prices ranging from USD 40.13 to USD 44.38/MWh.

Top Buyers by Total Transaction Charge (USD)

1. Tennessee Valley Authority – USD 1.31 billion
2. Salt River Project Agricultural Improvement and Power District – USD 8.69 million
3. PacifiCorp – USD 5.81 million

Top Developers by Total Transaction Charge

1. Silicon Ranch – USD 1.31 billion
2. NextEra Energy Resources – USD 8.75 million
3. Aypa Power – USD 8.69 million

State Averages

• Pennsylvania – USD 65.77/MWh
• North Carolina – USD 54/MWh
• Maryland – USD 48.85/MWh
• Tennessee – USD 43.57/MWh
• Michigan – USD 33.70/MWh

The states with the lowest average price per MWh included Texas (USD 24.47/MWh), New Mexico (USD 24.22/MWh) and Colorado (USD 19.93/MWh).

Sector Averages

• Onshore Wind – USD 36.26/MWh
• Solar – USD 36.45/MWh
• Storage – USD 30.48/MWh

PPA-Related Projects:

SE Athos II, LLC – Exelon Generation Company LLC @ USD 11.66/MWh

Additional Fields Included:

Company Information – Names and addresses associated with each project’s listed contacts.

NPM Planned COD – The date in which NPM has recorded as the planned operational date for the project.

Contract Service Agreement Types (Agreement Types) – Standardized labels describing the types of transactions or service agreements associated with each project.

Note: Transactions with negative quantities and/or negative pricing have been excluded from this dataset to ensure data consistency.