Pioneer offtakes power from 300 MW renewable projects in USA

Pioneer Natural Resources Company has announced its participation in 300 MW wind projects in Texas, USA. 

Pioneer along with NextEra Energy Resources, LLC are planning to build a 140 MW wind farm in Midland County. Pioneer's power purchase agreement (PPA) with Targa Resources Corporation will fund the project, and it is anticipated to be operational by 2024. The company is also involved in the 160 MW Concho Valley Solar project under Targa's PPA, which began commercial operation in October 2022.

Pioneer and Targa's jointly owned Midland Basin natural gas processing infrastructure, as well as Pioneer's field operations, will utilize a portion of the renewable electricity generated by the projects.