Pharmaceutical company signs PPA for 60 MW of Texas solar power
EDP Renewables SA, through its fully owned subsidiary EDP Renewables North America, and Bristol Myers Squibb have executed a 15-year PPA for 60 MW at the 240-MW Cattlemen Solar Park in Milam County, located in central Texas. Facebook parent company Meta also recently signed a PPA for 156 MW of the project.
The agreement will enable EDP Renewables North America to further develop Cattlemen Solar Park, which has an estimated capital investment of approximately $280 million and is anticipated to be operational in 2023. The project will generate economic benefits including landowner payments, and tax payments in the amount of an estimated $55 million which will support local schools and other essential community services, job opportunities during construction and operations, and more money spent at local businesses.
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 served as advisors, providing data and analytics that enabled BMS to examine the long-term implications of its investment.
“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,” said Danielle Menture, VP 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.”
News item from EDP Renewables North America