Enel North America has partnered with Nestlé to be the sole tax equity investor for its 208 MW DC Ganado solar-plus-storage project in Jackson County, Texas. Nestlé will also purchase the renewable energy attributes from the output of the solar plant.
“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,” says Paolo Romanacci, head of Enel North America’s renewable energy business, Enel Green Power. “Enel’s flexible portfolio of solutions scale to meet the needs of each customer, leveraging the business demand for clean electricity to build momentum toward a zero-carbon economy.”
In addition to its direct investment, Nestlé will purchase 100% of the renewable electricity attributes generated by the project’s energy production, estimated to be an average of 333,000 megawatt hours per year for 15 years.
The annual carbon emission reduction is expected to be about 126,294 metric tons of CO2, which is equivalent to the emissions of more than 27,200 cars per year. Nestlé is committed to sourcing 100% renewable electricity across its sites globally by 2025.
Enel’s Ganado solar-plus-storage project is expected to become operational in Q2 2023.