Energy solutions provide, Constellation has signed an agreement to supply PepsiCo, McCormick & Company, Best Buy and ViacomCBS’ KTVT and KTXA TV stations with 140MW of clean, renewable energy to power their operations. The solar power will be supplied from the 200 MW Big Star Solar Project, currently under development in Bastrop County, Texas.
Constellation’s agreement to purchase power and project-specific RECs equal to a 140 MW section of Big Star resulted from significant customer commitments. Each customer signed an equivalent long-term agreement with Constellation to receive energy and RECs from the Big Star project as part of their retail electric supply contract.
“This deal demonstrates the collective positive impact made possible by customers who share an authentic commitment to addressing climate change and reducing their respective carbon footprints,” said Jim McHugh, CEO, Constellation. “We take pride in providing a clean energy solution that helps leading companies such as these take proactive steps to meeting their environmental goals through renewable supply.”
RWE Renewables, one the world’s leading renewable energy companies, is building the solar project, which is expected to reach commercial operation by the second quarter of 2022. “As one of the world’s leading renewable energy companies, we are committed to contributing to the energy transition and helping power the U.S. economy,” stated Silvia Ortín, CEO, Onshore Wind and PV, RWE Renewables. “Our Big Star solar facility is well-placed to provide Constellation and its major commercial customers with a supply of green energy for their operations.”
For an uncomplicated purchase, each customer will use the Constellation Offsite Renewables (CORe) retail power product, which creates more access for businesses to new-build renewable energy projects by removing the obstacles associated with traditional offsite PPAs.
The simplified contracting and aggregation process of CORe combined with the commitment and involvement from these sustainability-minded companies allow Constellation to offer access to the economic and sustainability benefits of large-scale, offsite renewable energy projects to more of its customers. The 10-year customer agreements will begin in 2022.
Collectively, the companies’ commitment is expected to help reduce 257,000 metric tons of carbon dioxide emissions associated with their energy each year, the equivalent of removing nearly 56,000 passenger vehicles from the road in one year, according to U.S. Environmental Protection Agency estimates.