Houston, Texas - September 20, 2022 (Investorideas.com Newswire) EDP Renewables North America (EDPR NA), a leading renewable energy developer and operator in North America, announces the start of construction on its 240-megawatt (MW) Cattlemen I Solar Park in Milam County, Texas.
Cattlemen Solar Park, which was developed and constructed and will be operated by EDPR NA, will bring a wealth of economic benefits to Milam County and the greater central Texas region through millions of dollars that will be paid to local landowners, a projected $55 million in taxes that will be paid to support area schools and community services, and millions of dollars that will be spent locally during the project's construction and multi-decade operational life. Cattlemen will also support local jobs - both in the 400 employment opportunities created during construction and the several full-time team members who will be employed to safely run and perform routine maintenance on the park during operations. Once online in 2023, Cattlemen's generation will be equivalent to the consumption of more than 37,000 average Texas homes. Cattlemen will also save more than 304 million gallons of water and avoid more than 271,000 tons of CO2 each year that would be needed by conventional generation sources to produce the same amount of energy capacity as the solar park.
"Cattlemen is EDP Renewables' first solar park in Texas and will soon be our largest operational solar park in our North American portfolio," Kris Cheney, EDP Renewables North America Executive Vice President - Central and Western Regions and Mexico, Environmental Affairs, and Energy Storage Analytics said. "The Milam County community has been a great partner throughout Cattlemen's development. As we move closer to operation, we look forward to continuing that partnership as a contributing member of the community and expanding upon our relationship with the landowners, local officials, and residents."
EDP Renewables is a clean energy leader in Texas. The company's North American headquarters is in Houston, and it operates six wind energy projects throughout the state, including two phases of the Lone Star Wind Farm, two phases of the Los Mirasoles Wind Farm, the Reloj del Sol Wind Farm, and the Wildcat Creek Wind Farm. The projects' total operating capacity is 1,089 MW, which generate enough electricity to annually power more than 236,000 average homes in Texas. EDPR's Texas presence totals an estimated $1.9 billion in capital investment and more than 550 jobs.
Cattlemen has two long-term commercial agreements in-place for the project: a 156-MW power purchase agreement (PPA) with Meta (NYSE: FB) and a 60-MW PPA with Bristol Myers Squibb (NYSE: BMY). Cattlemen Solar Park is the second PPA that EDP Renewables and Meta have executed; the companies' first PPA was a 139-MW contract for EDPR NA's 200-MW Headwaters II Wind Farm in Indiana.
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About EDP Renewables North America
EDP Renewables North America LLC (EDPR NA), its affiliates, and its subsidiaries develop, construct, own, and operate wind farms and solar parks throughout North America. Headquartered in Houston, Texas, with 58 wind farms, nine solar parks, and eight regional offices across North America, EDPR NA has developed more than 8,800 megawatts (MW) and operates more than 8,200 MW of onshore utility-scale renewable energy projects. With more than 950 employees, EDPR NA's highly qualified team has a proven capacity to execute projects across the continent.
For more information, visit www.edpr.com/north-america.
About EDP Renewables
EDPR NA is a wholly owned subsidiary of EDP Renewables (Euronext: EDPR), a global leader in the renewable energy sector. EDPR is the fourth largest renewable energy producer worldwide with a presence in 28 markets across Europe, North America, South America and Asia Pacific. Based in Madrid and with main regional offices in Houston, São Paulo and Singapore, EDPR has a robust development portfolio with first-class assets and a market-leading operational capability in renewables. These include wind onshore, utility-scale and distributed solar, wind offshore (through its 50/50 JV - OW) and technologies complementary to renewables such as batteries and green hydrogen. EDPR's employee-centered policies resulted in its recognition as a Top Workplace 2022 in the United States, Top Employer 2022 in Europe (Spain, Italy, France, Romania, Portugal and Poland) and Brazil, as well as its inclusion in the Bloomberg Gender-Equality Index.
EDPR is a division of EDP (Euronext: EDP), a leader in the energy transition with a focus on decarbonization. Besides its strong presence in renewables (with EDPR and hydro operations), EDP has an integrated utility presence in Portugal, Spain and Brazil, including electricity networks, client solutions and energy management. EDP - EDPR's main shareholder - has been listed on the Dow Jones Index for 14 consecutive years, recently being named the most sustainable electricity company on the Index.
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