Enel North America, a leading clean energy company in North America, has partnered with Nestle to be the sole tax equity investor for its 208 MWdc Ganado solar-plus-storage project in Jackson County, Texas.
In addition, Nestle will acquire the renewable energy attributes from the entire output of the solar plant, advancing the company’s efforts to create a more sustainable future and lessen its operations’ emissions of greenhouse gases.
Paolo Romanacci, head of Enel North America’s sustainable power business, Enel Green Power, said that, Enel is pleased to cooperate with the biggest food and drink organization on the planet to empower the new spotless energy limit in the US.
Customers of all sizes are looking for clean energy projects, such as PPAs, direct retail electricity purchases, upfront tax equity investments, or other customized agreements, to help them reduce their emissions and use more renewable energy.
Enel’s adaptable portfolio of solutions, which scale to meet the needs of each customer and build momentum toward a zero-carbon economy, capitalizes on the business demand for clean electricity. These solutions are complemented by their extensive, cutting-edge fleet of renewable energy projects that provide real value to customers, communities, and investors alike.
In addition to its direct investment, Nestle will purchase all of the renewable electricity attributes generated by the project’s energy production, which is estimated to produce 333,000 megawatt hours annually for 15 years.
This renewable electricity will contribute to the reduction of carbon emissions in many of Nestle’s facilities in the United States, where well-known brands like DiGiorno pizza, Stouffer’s, Nesquik, Purina Pro Plan pet food, and Tidy Cats cat litter are produced.
The annual reduction in carbon emissions is anticipated to amount to approximately 126,294 metric tons of CO2, or the equivalent of more than 27,200 automobile emissions. As part of its comprehensive and time-bound Net Zero Roadmap, Nestle has committed to sourcing 100% renewable electricity at all of its global locations by 2025.
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