National Grid Renewables Pledges Over $1 Million Charitable Giving to Ohio Communities

Rhea-AI Summary

National Grid Renewables has pledged over $1 million to support the Yellowbud Community Fund in Ohio, benefiting Ross and Pickaway Counties. This initiative is part of the 274 MW Yellowbud Solar Project, which will provide annual donations of approximately $54,800 over twenty years. The funds will be managed by the Chillicothe-Ross Community Foundation, aimed at enhancing local nonprofits and schools. The project, currently under construction, is expected to commence operations in 2023, with the first donation slated for 2024. National Grid has now committed over $8 million in charitable funding across its renewable energy projects.

Positive

• Pledged over $1 million to support local communities in Ohio.
• Annual donations of approximately $54,800 for 20 years to local charities and schools.
• Total charitable funding commitment exceeded $8 million for renewable energy projects.
• Community engagement through the Yellowbud Community Fund enhances local development.

Negative

• None.

Yellowbud Community Fund part of National Grid Renewables' 274 MW Yellowbud Solar Project

MINNEAPOLIS, Sept. 29, 2022 /PRNewswire/ -- Today, National Grid Renewables announced its pledge to donate over $1 million to the Ohio communities of Ross and Pickaway Counties through its 274 megawatt (MW) Yellowbud Solar Project (Yellowbud or the project). Yellowbud will support the Yellowbud Community Fund via annual donations of approximately $54,800 over a twenty-year period and will work with The Chillicothe-Ross Community Foundation (CRCF), a local nonprofit organization, to distribute the funds.

"We are thrilled to partner with Yellowbud Solar to enhance the quality of life in the Ross and Pickaway communities," stated Scott Graham, Executive Director for CRCF. "It's not just power that Yellowbud Solar provides; the Yellowbud Community Fund will annually support nonprofit organizations and schools operating in Ross and Pickaway Counties."

As part of its community-focused and farmer-friendly foundation, National Grid Renewables initiates charitable funds for each of its owned and operational large scale renewable energy projects. The purpose of these charitable funds is to engage in, assist, and contribute money to charitable and/or community activities and opportunities within the project communities. The gifts donated by the charitable funds are above and beyond any tax revenue delivered by National Grid Renewables' projects.

The Yellowbud Community Fund donations are available via grant application for schools, government agencies, and charitable 501(c)3 organizations located in Ross and Pickaway Counties. CRCF will facilitate and manage the grant application process on behalf of Yellowbud. The Yellowbud Community Fund will gift its first donation from Yellowbud approximately one year after the project reaches commercial operation. Yellowbud, which is currently under construction, is anticipated to begin operation in 2023 and intends to make its first annual donation in 2024.

"Giving back to our project communities is core to our business values, and we are excited to be able to support the community members in Ross and Pickaway Counties through the Yellowbud Community Fund," stated Blake Nixon, President, National Grid Renewables. "With the Yellowbud Community Fund, National Grid Renewables has now pledged over $8 million in charitable funding."

About National Grid Renewables

National Grid Renewables, part of the National Grid Ventures division of National Grid (NYSE: NGG), develops, owns, and operates large-scale renewable energy assets across the United States, including solar, wind, and energy storage. As a farmer-friendly and community-focused business, National Grid Renewables seeks to repower America's electricity grid by reigniting local economies and reinvesting in a sustainable, clean energy future. National Grid Renewables supports National Grid's vision of being at the heart of a clean, fair, and affordable energy future for all. To learn more about National Grid Renewables, visit www.nationalgridrenewables.com or follow the company on Twitter or LinkedIn.

Contact: National Grid Renewables
press@nationalgridrenewables.com
612.429.7050 

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SOURCE National Grid Renewables

FAQ

What is the Yellowbud Community Fund?

The Yellowbud Community Fund is a charitable initiative supporting local nonprofits and schools in Ross and Pickaway Counties, funded by National Grid Renewables' Yellowbud Solar Project.

How much will National Grid Renewables donate to Ohio communities?

National Grid Renewables has pledged over $1 million to Ohio communities through the Yellowbud Community Fund.

When will the Yellowbud Solar Project begin operations?

The Yellowbud Solar Project is expected to begin operations in 2023.

What is the annual donation amount from the Yellowbud Solar Project?

The project will provide annual donations of approximately $54,800 to local communities.

How does the Yellowbud Community Fund distribute funds?

Funds from the Yellowbud Community Fund are available via grant application for local schools, government agencies, and charitable organizations, managed by the Chillicothe-Ross Community Foundation.