PepsiCo, Best Buy and other big-name corporate buyers invest in 200-MW Texas solar project

Energy solutions provider Constellation announced that an agreement is in place to help PepsiCo, McCormick & Company, Best Buy and ViacomCBS’ KTVT and KTXA TV stations power their operations with clean, renewable energy from the 200-MW Big Star Solar Project, currently under development in Bastrop County, Texas. Big Star is expected to reach commercial operation in the second quarter of 2022.

Major customer commitments resulted in Constellation’s agreement to purchase power and project-specific renewable energy certificates (RECs) equal to a 140-MW section of Big Star. Each customer has signed an equivalent long-term agreement with Constellation to receive energy and RECs from the Big Star project as part of their retail electric supply contract. RWE Renewables, one the world’s leading renewable energy companies, is building the solar project, which is expected to reach commercial operation by Q2 2022.

“This deal demonstrates the collective positive impact made possible by customers who share an authentic commitment to addressing climate change and reducing their respective carbon footprints,” said Jim McHugh, CEO, Constellation. “We take pride in providing a clean energy solution that helps leading companies such as these take proactive steps to meeting their environmental goals through renewable supply.”

“As one of the world’s leading renewable energy companies, we are committed to contributing to the energy transition and helping power the U.S. economy,” said Silvia Ortín, CEO, Onshore Wind and PV, RWE Renewables. “Our Big Star solar facility is well-placed to provide Constellation and its major commercial customers with a supply of green energy for their operations.”

To simplify the purchase, each of the customers will use the Constellation Offsite Renewables (CORe) retail power product, which increases businesses’ access to new-build renewable energy projects by removing the significant hurdles associated with traditional offsite power purchase agreements (PPAs).

By combining the simplified contracting and aggregation process of CORe with the commitment and involvement from sustainability-minded companies such as these, Constellation is able to offer more customers access to the economic and sustainability benefits of large-scale, offsite renewable energy projects. The 10-year customer agreements begin in 2022.

News item from Constellation

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