Enel North America has begun operations of the 326 MW Stampede solar-plus-storage project in Hopkins County, Texas.
Nestlé is the sole tax equity investor for the project and will also purchase the renewable energy attributes from the solar plant’s output.
This is Enel’s second tax equity deal with Nestlé, after a 2023 agreement for the Ganado solar-plus-storage project, also in Texas.
“America needs more low-cost clean power, and Enel is delivering it,” says Stephen Pike, head of Enel Green Power North America.
“The Stampede project will add more power generation to the grid at a time when demand is rising from electrification and data centers. Furthermore, its flexible battery storage system will help step in to stabilize the grid when conditions tighten. We’re grateful for our continued partnership with Nestlé, and we applaud them for their direct investment in bringing more renewable electricity online.”
Stampede’s bifacial PV panels, which began producing power in June, are paired with an 86 MW BESS, which is undergoing final commissioning.
Nestlé’s renewable energy purchase is estimated to be over 522,000 MWh per year for 15 years.
Marathon Capital advised Nestlé on its investment. CCA Capital acted as advisor to Enel.
