ENEL AND BXP EXECUTE POWER PURCHASE AGREEMENT FOR NEW TEXAS SOLAR PROJECT

Rhea-AI Summary

Enel North America to sell 21 MW of solar power to BXP from Estonian solar project in Texas

Positive

• Enel North America has signed a power purchase agreement with BXP for a 21 MW portion of the Estonian solar project
• The agreement builds on a longstanding relationship between Enel and BXP for advanced energy solutions

Negative

• None.

• Enel North America¹ will sell 21 MW of solar power from the Estonian solar project, now under construction in Delta County, Texas, to BXP.
  
  
• The new 202 MW² solar project, paired with a 104 MW battery system, is expected to come online in late 2024.

DALLAS, Sept. 19, 2023 /PRNewswire/ -- Enel North America¹ has signed a power purchase agreement with BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, for a 21-megawatt (MW) portion of the Estonian solar project under construction in Delta County, Texas.

"Enel offers companies a variety of tools to manage energy efficiently and lower their carbon footprint—from clean power contracts to load-side solutions like demand response," said Paolo Romanacci, head of Enel North America's renewable energy business, Enel Green Power North America. "Enel is thrilled to grow our relationship with BXP, further enabling their sustainability progress while also supporting new, clean power in ERCOT—a grid that is increasingly reliant on solar power and battery storage."

"Efforts to advance meaningful decarbonization at BXP have been centered on energy efficiency, electrification, and renewable energy procurement," said Doug Linde, President, BXP. "By contracting for renewable power that is additional, we are making a positive impact by supporting the growth of renewable energy generation and broader transition to a clean energy future. We are pleased to grow our relationship with Enel as a partner in our sustainability journey."

The agreement builds on a longstanding relationship between Enel and BXP for advanced energy solutions including demand response and utility bill management. Enel manages 10,000 annual utility bills for BXP across 939 active accounts and has helped enable over $6 million in demand response revenue since 2011.

Construction is underway on the Estonian solar + storage project, which is expected to come online in late 2024. The 202 MW2 solar facility will be paired with a 104 MW battery energy storage system. The solar project is expected to generate around 499 GWh of clean electricity each year, equivalent to the needs of over 46,000 US households. Over its lifetime, the hybrid project is expected to generate over $23 million in new local tax revenue for schools and public services.

Enel is one of the largest renewable energy operators in Texas, with 3.3 GW of installed wind and solar capacity and 607 MW / 911 MWh of installed battery storage capacity supporting the ERCOT grid. In total, Enel has 1.8 GW of solar and 736 MW / 1,103 MWh of utility-scale storage capacity under construction in Texas. Enel also manages around 200 MW of demand response capacity, offers retail electricity supply, and has more than 12,400 electric vehicle charging stations installed in the state.

BXP retained Edison Energy as its renewable energy advisor for this deal.

About Enel North America
Enel North America, part of the Enel Group, is a clean energy leader in North America and is working to electrify the economy and build a net-zero carbon future by decarbonizing energy supply, electrifying transportation, creating resilient grids, and promoting a just, equitable transition. Enel North America serves over 4,500 businesses, utilities, and cities through renewable power generation, demand response, distributed energy resources, smart e-mobility solutions and services, energy trading, advisory and consulting services, and more. Its installed portfolio includes over 9.7 GW of utility-scale renewable capacity, 690 MW / 1,036 MWh of utility-scale energy storage and 97 MW / 216 MWh of distributed energy storage capacity, 4.7 GW of demand response capacity, and 193,000 electric vehicle charging ports. Visit enelnorthamerica.com and follow us on Facebook, LinkedIn, X (Twitter), and YouTube to learn more. 

About BXP
BXP (NYSE: BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 50 years. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT). As of June 30, 2023, including properties owned by unconsolidated joint ventures, BXP's portfolio totaled 54.1 million square feet and 191 properties, including 13 properties under construction/ redevelopment.  For more information, please visit our website at www.bxp.com or follow us on LinkedIn or Instagram.

¹ AC power (262 MWdc)
² Through its renewable energy business, Enel Green Power North America.

Media Contact:
Matt Epting
Head of Media
Enel North America
matt.epting@enel.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/enel-and-bxp-execute-power-purchase-agreement-for-new-texas-solar-project-301932520.html

SOURCE Enel North America