Yahoo Finanza EDP Renewables and Meta Expand Partnership Through Long-Term Contract for a New Texas Solar Park
The agreement will enable the continued development and eventual construction of a Texas solar park that will annually power the equivalent of more than 37,000 average homes.
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Houston, Texas, April 13, 2022 (GLOBE NEWSWIRE) -- EDP Renewables SA (EDPR), through its fully owned subsidiary EDP Renewables North America LLC (EDPR NA), and Meta (NYSE: FB) have executed a long-term power purchase agreement (PPA) for 156 megawatts (MW) at the 240-MW Cattlemen Solar Park in Milam County, located in central Texas. This contract is a part of the announcement EDPR issued on April 11, 2022.
EDP Renewables North America developed and will construct, own, and operate Cattlemen Solar Park, which has an estimated capital investment of approximately $280 million and is anticipated to be operational in 2023. Cattlemen will provide economic benefits by way of payments to local landowners, an estimated $55 million in taxes paid to support local schools and other essential community services, job opportunities during the project’s construction and operations, and an increase in money spent at businesses in the vicinity of the project. The project will also annually power the equivalent of more than 37,000 average Texas homes and save approximately 304 million gallons of water a year, which is the amount of water that would be needed by conventional generation sources to produce the same amount of capacity as the solar park.
Cattlemen marks the second power purchase agreement (PPA) EDP Renewables and Meta have executed, with the first being a 139-MW PPA for the 200-MW Headwaters II Wind Farm in Indiana. The companies are also partnering on EDPR’s 200-MW Randolph Solar Park, where the entire capacity of the project will be dedicated to supporting Meta’s data center in Mesa, Arizona. In total, EDPR and Meta are working together to bring 495 MW of renewable energy to the grid, supplying to Meta’s goal of supporting its global operations with 100 percent renewable energy.
“As our global infrastructure continues to grow, partnerships like the one with EDP Renewables are increasingly important for us to meet our ambitious sustainability goals,” said Urvi Parekh, head of renewable energy at Meta. “Investing in local communities is important to us, and we are proud that this project is bringing new solar energy to the grid, providing construction jobs, and contributing to local water savings.”
“EDP Renewables is pleased, once again, to collaborate with Meta on another renewable energy project and to be a part of its sustainability goals,” said Sandhya Ganapathy, EDP Renewables North America CEO. “We are committed to playing a leading role in the energy transition, and projects like Cattlemen Solar Park enable us to achieve that while providing numerous economic benefits and opportunities to the local communities”.”
EDP Renewables is a renewable energy industry leader in Texas. To date, the company owns and operates six wind energy projects in the state, totaling 1,089 MW of capacity, which generate electricity equivalent to the consumption of more than 236,000 average Texas homes. Through its projects as well as its North American headquarters in Houston, EDP Renewables has contributed mightily to the Texas economy, through the more than 550 Texans it employs and an estimated $1.9 billion in capital investment.
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About EDP Renewables North America
EDP Renewables North America LLC (EDPR NA), its affiliates, and its subsidiaries develop, construct, own, and operate wind farms and solar parks throughout North America. Headquartered in Houston, Texas, with 58 wind farms, nine solar parks, and seven regional offices across North America, EDPR NA has developed more than 8,800 megawatts (MW) and operates more than 8,200 MW of onshore utility-scale renewable energy projects. With more than 950 employees, EDPR NA’s highly qualified team has a proven capacity to execute projects across the continent.
For more information, visit www.edpr.com/north-america.
About EDP Renewables
EDP Renewables (Euronext: EDPR), is a global leader in the renewable energy sector and the fourth-largest producer worldwide. With its robust development portfolio, first-class assets, and a market-leading operating capacity, EDPR has shown extraordinary growth over the past few years, with a presence in 26 markets across Europe, Latin America, North America, and Asia.
EDPR is a driver of social progress with its commitment to sustainability and integration, with their employee-centered policies earning them a listing in the Bloomberg Gender-Equality Index and seeing them named a Top Employer 2022 in Europe (Spain, Italy, France, Romania, Portugal, and Poland) and Brazil, as well as a Top Workplace 2022 in the United States.
EDP – EDPR’s main shareholder – is a global energy company and a leader in value creation, innovation, and sustainability. EDP has been listed on the Dow Jones Index for 14 consecutive years, recently being named the most sustainable electricity company on the Index.
Attachments
CONTACT: Blair Matocha EDP Renewables 713-356-2415 blair.matocha@edpr.com
