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

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

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

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.

21 May 2024
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third 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 2025 and beyond.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA