National Grid Renewables Announces Power Purchase Agreements with Fujifilm and Bristol Myers Squibb – EQ
In Short : PPAs provide a reliable and long-term commitment between renewable energy developers and consumers, enabling businesses to access clean energy while also supporting the growth of renewable infrastructure. By partnering with these companies, National Grid Renewables is not only helping them meet their sustainability goals but also contributing to the overall transition to a cleaner and greener energy future.
In Detail : National Grid Renewables has announced the execution of two power purchase agreements (PPAs) for its Blevins Solar Project (Blevins), a 270-megawatt (MW) development located in Falls County, Texas. Under the PPAs, Fujifilm has contracted 125 MW of solar, and Bristol Myers Squibb has contracted 145 MW of solar.
Blevins is estimated to begin construction in 2024 and reach operations in 2025. Including the Blevins project, National Grid Renewables has a total investment of nearly 1 gigawatt (GW) of renewable energy projects in ERCOT, including Great Plains Wind Farm, Noble Solar & Storage Project, and Copperhead Solar & Storage Project. Additionally, Blevins is the second National Grid Renewables project located in Falls County, marking a significant commitment to bringing clean energy and associated benefits to local residents.
Blevins is anticipated to benefit local and statewide communities through the production of millions of dollars in new tax revenue and landowner income, the creation of new jobs, and local spending. The project community will also benefit from a dedicated charitable fund, which is unique to National Grid Renewables amongst its competitors. In total, Blevins’ direct economic impact is estimated to reach approximately $35 million over the first 30 years of operation.
“Blevins represents our strong belief that renewable energy projects deliver a sustainable and reliable source of power, all while invigorating the local economies and unlocking new potential for both direct and indirect revenue streams. Projects like Blevins not only benefit Texas with a clean energy solution, but they also provide reliability and security for the overall electrical grid,” said Blake Nixon, President of National Grid Renewables.
Bristol Myers Squibb’s (BMS) longstanding commitment to environmental responsibility includes working with partners to help achieve its goals. For this project, Bristol Myers Squibb worked with Edison Energy, LLC as an independent advisor, providing renewables market expertise and analytics support, which allowed BMS to assess long-term implications of its investment.
“Environmental sustainability is an important component of our business strategy and embedded within our enterprise operations,” said Danielle Menture, Vice President, Environment, Occupational Health, Safety and Sustainability at Bristol Myers Squibb. “This agreement is another critical step in our journey towards achieving our goal of 100% purchased electricity from renewable sources and supporting the move toward cleaner energy.”
Fujifilm engaged World Kinect Energy Services to identify renewable energy projects that would accelerate their corporate strategy to cover 100% of the company’s total electricity consumption with green energy in the United States and Canada. A great example of the power of partnerships, this project is the culmination of the creative and collaborative work from all involved and helps build momentum for Fujifilm’s achievement of their renewable energy and CO2 emissions reduction goals.
“Fujifilm strives to be a company that contributes to solving society’s greatest challenges, including addressing climate change through our business strategy and operations,” said Chisato Yoshizawa, Director and Corporate Vice President, General Manager of Corporate Communications Division and General Manager of ESG Division, FUJIFILM Holdings Corporation. “This Power Purchase Agreement is aligned with our policy, which emphasizes securing a stable supply of renewable electricity with additionality.”
About National Grid Renewables
National Grid Renewables develops, owns and operates large-scale renewable energy assets across the United States, including solar, wind, and energy storage. As a farmer-founded and community-focused business, National Grid Renewables repowers 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.
