PPA signed for 208 MW Solar project in USA

Enel North America has announced a partnership with Nestlé to invest in the 208 MWdc Ganado solar-and-storage project in Texas, USA. Enel North America is acting as the sole tax equity investor, while Nestlé will also buy the renewable energy attributes from the project's entire solar plant output. Notably, by buying 100% of the production, Nestlé aims to reduce carbon emissions in many of its US plants for 15 years.

The renewable electricity generated by the energy program will produce an average of 333,000 MW hours per year and will help reduce about 126,294 metric tons of CO2 emissions per year, an annual figure equal to the emissions of more than 27,200 vehicles. Nestlé is committed to achieving net-zero emissions by 2050 by focusing on developing ways to create and transport products in a sustainable manner. The investment in Ganado will help to reduce carbon emissions across Nestlé's US manufacturing sites while expanding renewable energy available for homes.

The project is expected to become operational in Q2 2023. CCA Capital LLC has advised Enel and Marathon Capital has guided Nestlé's investment.