EDF Renewables North America Signs Virtual Power Purchase Agreement with Enterprise Products for Solar Energy
Enterprise Products Partners L.P. (NYSE: EPD) has entered into a power purchase agreement for the Space City Solar Project in Wharton County, Texas, securing 100 MWac / 132 MWdc. This project aims for a total capacity of 345 MWac / 455 MWdc, with construction commencing in Summer 2021 and electricity delivery expected in Summer 2022. The initiative is projected to create around 300 jobs and generate over $30 million in local tax revenue. The project emphasizes environmental responsibility with the use of high-efficiency bifacial solar PV modules.
- Secured power purchase agreement for 100 MWac solar capacity.
- Creation of approximately 300 jobs during construction.
- Expected to generate over $30 million in new tax revenue for Wharton County.
- None.
EDF Renewables North America today announced a power purchase agreement for the second tranche of the Space City Solar Project with an affiliate of Enterprise Products Partners L.P. (NYSE: EPD) for 100 MWac / 132 MWdc. The Project’s total capacity is up to 345 MWac / 455 MWdc. Space City Solar, located in Wharton County, Texas, is expected to commence construction in Summer 2021 and begin delivery of clean electricity in Summer 2022.
Approximately 300 jobs are expected to be created during the construction phase with more than
Space City Solar is specially designed to generate clean energy while minimizing impacts to wildlife, habitat, and other environmental resources. The project will utilize high efficiency bifacial solar photovoltaic (PV) modules.
“This transaction demonstrates EDF Renewables’ continued commitment to helping corporate customers meet their wholesale power supply needs and sustainability initiatives,” said Matt McCluskey, Vice President, South Region Development for EDF Renewables. “Space City Solar will provide an economic boost to the local economy through construction jobs, local spend and an expanded tax base.”
A.J. “Jim” Teague, co-chief executive officer of Enterprise’s general partner, stated, “We are committed to being a responsible steward of the environment, including using energy sustainably across our footprint. In 2020, we launched an initiative to evaluate opportunities to expand solar power purchasing and/or installations across our system. We are proud to say this purchase agreement is a result of those efforts. We estimate that by 2025, approximately 25 percent of our power will be from renewable resources.”
With 35 years of experience and 16 gigawatts of renewable projects developed throughout North America, EDF Renewables provides a fully integrated bundle of energy solutions from grid-scale wind, solar, and solar plus storage projects to electric vehicle charging and energy storage management.
FORWARD-LOOKING STATEMENTS
This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise and its general partner expect, believe or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Enterprise’s reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
About EDF Renewables North America:
EDF Renewables North America is a market leading independent power producer and service provider with 35 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distributed solutions: solar, solar+storage, EV charging and energy management; and asset optimization: technical, operational, and commercial skills to maximize performance of generating projects. EDF Renewables’ North American portfolio consists of 16 GW of developed projects and 11 GW under service contracts. EDF Renewables North America is a subsidiary of EDF Renouvelables, the dedicated renewable energy affiliate of the EDF Group. For more information visit: www.edf-re.com. Connect with us on LinkedIn, Facebook and Twitter.
About Enterprise Products Partners L.P.:
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and export and import terminals; crude oil gathering, transportation, storage and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals and related services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. For more information visit: www.enterpriseproducts.com.
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