SOURCE: National GridDESCRIPTION:
May 28, 2020 /3BL Media/ - Geronimo Energy (Geronimo), a National Grid company, and Big Rivers Electric Corporation (Big Rivers) announced today the execution of a Power Purchase Agreement (PPA) for the Unbridled Solar Project (Unbridled Solar) in Henderson and Webster Counties, Kentucky. Unbridled Solar is a 160-megawatt (MW) clean solar energy project located in the Midcontinent Independent System Operator (MISO) market.
"Big Rivers is excited to add this renewable energy source to our portfolio for the sole benefit of our Member-Owners," said Bob Berry, President and CEO of Big Rivers Electric Corporation. "This is another example of our commitment to provide safe, reliable and sustainable energy to our Members."
Anticipated to begin operations at the end of 2023, Unbridled Solar is currently the largest solar project development in the state of Kentucky. Using the United States’ Environmental Protection Agency’s (EPA) greenhouse gas equivalencies calculator, the project is estimated to offset carbon dioxide emissions by 255,000 metric tons annually.
“Geronimo Energy has a long-term commitment to the State of Kentucky,” stated David Reamer, President for Geronimo Energy. “We have established roots in the southeastern region of the United States, and together with Big Rivers Electric Corporation, we are expanding upon this foundation to bring farmer-friendly and economically beneficial renewable energy to local and statewide Kentucky communities and economies.”
The associated economic benefits projected to result from Unbridled Solar total an estimated $9 million throughout the first 20 years of operation, including positive impacts in new tax revenue, construction jobs, new full-time jobs, and charitable funds through the project’s Education Fund. The Unbridled Solar Education Fund alone will provide approximately $640,000 in donations to the local school districts connected to the project above and beyond all tax revenue and local spending benefits.
“This power purchase agreement is encouraging news for Henderson County,” said Brad Schneider, Henderson County Judge-Executive. “It will enhance our community’s efforts to land new industries that require a proven renewable energy source to help supply their plants. Constructing the solar facilities
Geronimo needs to supply that power will mean jobs for local contractors and their teams, and Henderson County’s willingness to embrace and utilize new technologies will hopefully convince other businesses with products or ideas on the cutting edge to locate here. Congratulations Geronimo and Big Rivers Electric Corporation! Welcome to our corner of Kentucky.”
"I think Big Rivers Electric Corporation has selected an outstanding company. Geronimo Energy has a reputation for being a great community partner,” stated Stephen R. Henry, Webster County Judge Executive. “I look forward to working with their team to see what opportunities can be generated for our area because of this project. With agriculture being so important to us all, I am glad to get a farmer-friendly company like Geronimo."
“This contract with Big Rivers Electric Corporation furthers National Grid’s and Geronimo Energy’s collective mission to reduce carbon emissions and accelerate a clean energy future,” said Daniel Westerman, President, Distributed & Renewable Energy for National Grid. “For community members and Big Rivers Electric Corporation, this project represents a significant step forward in combatting climate change and diversifying the local electric generator portfolio.”
About Geronimo Energy
Geronimo Energy, a National Grid (NYSE: NGG) company, is a leading North American renewable energy development company based in Minneapolis, Minnesota, with satellite offices located throughout multiple states in the regions where it develops, constructs, and operates. As a farmer-friendly and community driven company, Geronimo develops projects for corporations and utilities that seek to repower America’s grid by reigniting local economies and reinvesting in a sustainable future. Geronimo has developed over 2,400 megawatts of wind and solar projects that are either operational or currently under construction, resulting in an investment of over $4 billion in critical energy infrastructure and the revitalization of rural economies. Geronimo has a vast development pipeline of wind and solar projects in various stages of development throughout the United States. Please visit www.geronimoenergy.com to learn more.
About Big Rivers Electric Corporation
Big Rivers Electric Corporation is an electric generation and transmission cooperative headquartered in Henderson, Kentucky and owned by three distribution cooperative members—Jackson Purchase Energy Corporation, headquartered in Paducah; Kenergy Corp, headquartered in Henderson; and Meade County Rural Electric Cooperative Corporation, headquartered in Brandenburg. These member cooperatives deliver retail electric power and energy to more than 118,000 residential, commercial, and industrial customers in portions of 22 western Kentucky counties.
Lindsay T. SmithGeronimo Energy8400 Normandale Lake BoulevardSuite 1200Bloomington, MN 55437952.358.5672, firstname.lastname@example.org
Tweet me: .@GeronimoEnergy, a @NationalGridUS company, and @BRElectricCorp announced the beginning of a Power Purchase Agreement for the Unbridled Solar Project in Henderson and Webster Counties, Kentucky. https://bit.ly/2X6KFCz #PPA @SEIA
KEYWORDS: NYSE:NGG, National Grid, Geronimo Energy, power purchase agreement, Big Rivers Electric Corporation