EDP Renewables (EDPR), through its EDP Renewables North America LLC (EDPR NA) subsidiary, and Bristol Myers Squibb (BMY) have executed a 15-year power purchase agreement (PPA) for 60 MW of the 240 MW Cattlemen Solar Park in Milam County, located in central Texas.
The agreement will enable EDPR NA to further develop Cattlemen Solar Park, which has an estimated capital investment of approximately $280 million and is anticipated to be operational in 2023.
Bristol Myers Squibb, in line with its long-term environmental sustainability goals, has stated that by 2030 it will purchase 100% of the electricity it uses from renewable sources. The PPA with EDP Renewables’ Cattlemen Solar Park marks a significant step toward achieving this goal. Edison Energy LLC served as advisors.
“As a leading global biopharma company, BMS recognizes the critical link between climate change and human health, and our dedication to transforming patients’ lives through science underpins our approach to environmental sustainability,” says Danielle Menture, vice president of sustainability, EHS and occupational health. “This agreement not only is an important milepost in our sustainability journey, but also is a step toward a clean energy future for everyone.”
“We are delighted to partner with Bristol Myers Squibb on this arrangement that will help in making further strides toward achieving their environmental goals,” states Sandhya Ganapathy, COO of EDPR North America. “Texas leads the nation in installed wind, solar, and storage capacity, and EDPR is proud to have the opportunity to bring more solar energy online and generate new local and statewide economic benefits in the Lone Star State.”