EDF Renewables North America Signs Virtual Power Purchase Agreement with Enterprise Products for Solar Energy
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.
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Approximately 300 jobs are expected to be created during the construction phase with more than $30 million generated in new tax revenue over the operating life for Wharton County taxing entities.
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.
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.