AUSTIN, Texas — The City of Austin could soon approve spending hundreds of millions of dollars for more renewable energy.

City council will vote on a $240 million contract later this month for Austin Energy to sign a 20-year deal with a wind and solar energy provider.

Erika Bierschbach with Austin Energy said if the council approves the money, it will help Austin reach its 55 percent renewable energy goals by 2025.

"We're very pleased with this contract, we're pleased with its location and the economics," Bierschbach said. "So, we feel like it's going to be a very favorable add to the renewable portfolio, which will then come out in the customers' rates."

Ultimately, the city wants to reach 65 percent renewable energy by 2027. Right now, it's at 38 percent.

Austin Energy said it's possible this contract would mean lower bills for customers in the long run, but there is no guarantee.

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