The North American unit of Italian utility group Enel SpA (BIT:ENEL) mentioned Wednesday it has secured a tax fairness funding from Swiss meals and drinks big Nestle SA (VTX:NESN) for its 208-MW DC Ganado solar-plus-storage mission in Texas.
Along with changing into the only real tax fairness investor for the mission, Nestle will buy all of the renewable power attributes from the photo voltaic plant’s technology. The mission is anticipated to supply a median of 333,000 MWh per yr for 15 years, which can enable Nestle to scale back the carbon emissions throughout its US amenities by about 126,294 tonnes a yr.
“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,” commented Paolo Romanacci, head of Enel North America’s renewable energy business, Enel Green Power.
Nestle’s investment will enable the completion of the solar-plus-storage project, which is located in Jackson County and is expected to come onstream in the second quarter of 2023.
The size of the investment was not disclosed.
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