Enel North America signs 208MW PPA and project investment deal with Nestle

March 22, 2023
Facebook
Twitter
LinkedIn
Reddit
Email
The Ganado Solar project in Jackson County, Texas. Image: Enel Green Power.

Enel North America and global food giant Nestlé have partnered on a Texas solar-plus-storage project with both an investment and a power purchase agreement (PPA) in place.

Nestlé have provided an unspecified tax equity investment into Enel’s 208MW Ganado solar-plus-storage project in Jackson County, Texas. The investment will allow the project to reach completion, Enel said, with operations expected to begin in Q2 2023.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

A 15-year PPA was also signed for the totality of power produced at the site – estimated around 333,000MWh – which Nestlé will use to partially power operations at its US facilities. The company has a commitment to sourcing 100% of its electricity across its sites from renewable generation by 2025.

“Enel is proud to partner with the world’s largest food and beverage company to enable the addition of new clean power capacity in the United States,” said Paolo Romanacci, head of Enel North America’s renewable energy business, Enel Green Power.

“Customers of all sizes are seeking clean energy projects to help reduce their emissions and use more renewable energy, whether through PPAs, direct retail electricity purchases, upfront tax equity investments or other tailored agreements.”

Corporate PPAs hit record levels last year according to research from BloombergNEF, with almost 37GW worth of agreements signed. Enel said in an official release that it signed 12 commercial and industrial PPAs last year, as well as launching a retail electricity alternative.  

PV Tech spoke with renewable energy investors Glennmont Partners about the state and future of the PPA market in Europe this week.

Nestlé invested in a 250MW Texas PV project in 2020, and has signed a number of offtake deals with German developer Baywa.re totalling around 62GWh of power a year.

PV Tech’s publisher Solar Media will host the Renewable Energy Trading Summit on 6-7 June 2023 in London. The event will explore PPA structuring, revenue risk management strategies, renewable energy certificates, and much more. For more information, go to the website.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

October 30, 2025
Meridian Energy, a New Zealand state-owned energy company, has begun the construction of its 230GWh Ruakaka solar plant. 
October 29, 2025
The European Bank for Reconstruction and Development (EBRD) has provided US$142 million in financing for the construction of a 1GW solar and 1.3GWh BESS portfolio in Uzbekistan.
October 29, 2025
NextEra Energy Resources added 3GW of new renewable energy generation and storage capacity to its portfolio in the third quarter of 2025.
October 29, 2025
French firms TotalEnergies and EDF, with local partners, secured contracts for 400MW and 600MW solar projects in Saudi Arabia, supporting Vision 2030 renewable goals.
October 29, 2025
US solar manufacturer Corning has brought online its wafer production at its Michigan plant, during the third quarter of 2025.
October 28, 2025
GreenYellow plans to invest US$116 million in Poland over the next three years to expand its installed capacity and customer base.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany