Earth Day 2021: The Home Depot, NRG, The Hershey Company Sign Solar PPAs

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Contact: Lindsay T Smith
Director, Marketing & Communications
National Grid Renewables
Lindsay@nationalgridrenewables.com
952-358-5672

The Home Depot, The Hershey Company, and NRG Sign Solar Power Purchase Agreements with National Grid Renewables’ Noble Project in Texas

Project to offset CO2 emissions by ~450,000 metric tons annually, will utilize First Solar Series 6 modules

Minneapolis, MN (April 20, 2021) – As part of this year’s Earth Day celebration, National Grid Renewables has announced the signing of three solar power purchase agreements (PPAs) for the Noble Project (Noble) currently under construction in Denton County, Texas. Noble consists of 275 megawatts (MW) of solar and 125 megawatt hours (MWh) of battery storage. The Home Depot and NRG have each executed individual 100 MW solar PPAs, and The Hershey Company has contracted for a 50 MW solar PPA.

Using the United States’ Environmental Protection Agency’s (EPA) greenhouse gas equivalencies calculator, Noble is estimated to offset carbon dioxide emissions by 450,000 metric tons annually during the first 20 years of operation and will support the clean energy goals of The Home Depot, NRG, and The Hershey Company.

“Our partnership with National Grid Renewables reinforces our commitment to reduce our impact by continually improving the efficiency of our operations and expanding investments in renewable and alternative energy,” says Ron Jarvis, Chief Sustainability Officer at The Home Depot. “We are on track to meet or exceed our goal to procure or produce 335 megawatts of renewable or alternative energy by 2025.”

“The call to decarbonize our economy continues to grow,” said Robert Gaudette, Senior Vice President of NRG Energy, Inc. “We look forward to taking another step toward a more sustainable energy future. Through renewable energy and the support of local communities, we are able to provide our customers with more energy solutions.”

“As a company, our sustainability goals are changing the way we do business,” said Jeff King, Senior Director of Global Sustainability and Social Impact for The Hershey Company. “Solar projects, like Noble, will help us continue on our path towards increasing reliance on clean and renewable energy across all of our operations.”

Noble is anticipated to begin operation in the first half of 2022 and will positively impact the local economy throughout construction and operation. During construction, Noble is anticipated to employ approximately 250 workers and will boost spending at local businesses. Throughout the first 20 years of operation, Noble is projected to benefit the community through the creation of approximately $26 million in new tax revenue, 3-5 on-site operations and maintenance jobs, and over $1 million in donations funded by Noble through a local charitable initiative.

“National Grid Renewables is proud to work with some of the nation’s most prominent businesses to bring Noble forward for the local community of Denton and the state of Texas,” stated David Reamer, Head of Development, US Onshore Renewables for National Grid Renewables. “Like all renewable energy projects, Noble will provide impactful, cost-effective, and reliable clean energy generation that will create tremendous economic benefits for local businesses and residents.”

Noble will utilize next-generation Series 6 thin film solar modules developed and produced by First Solar, Inc. (Nasdaq: FSLR). “By using First Solar modules, Noble will generate some of the lowest carbon solar electricity possible today,” said Georges Antoun, Chief Commercial Officer, First Solar. “With this project, National Grid Renewables demonstrates how lower carbon, responsible solar electricity produced with American solar technology can competitively and reliably power iconic US businesses.”

About National Grid Renewables

National Grid Renewables, part of the competitive, unregulated National Grid Ventures division of National Grid (NYSE: NGG), develops, owns and operates large-scale renewable energy assets across the United States, including solar, wind and battery storage. As a farmer-friendly and community-focused business, National Grid Renewables develops projects for corporations and utilities that seek to repower America’s electricity grid by reigniting local economies and reinvesting in a sustainable, clean energy future. Please visit www.nationalgridrenewables.com to learn more.

About The Home Depot

The Home Depot is the world’s largest home improvement specialty retailer. The Home Depot operates a total of 2,298 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2020, The Home Depot had sales of $132.1 billion and earnings of $12.9 billion. The Home Depot employs approximately 500,000 associates. The Home Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor’s 500 index.

About NRG

NRG is bringing the power of energy to people and organizations by putting customers at the center of everything they do. They generate electricity and provide energy solutions and natural gas to millions of customers through its diverse portfolio of retail brands. A Fortune 500 company operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future. NRG is committed to a science-based goal of reducing carbon emissions by 50 percent by 2025 and achieving net-zero by 2050. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow them on Twitter @nrgenergy.

About The Hershey Company

The Hershey Company is headquartered in Hershey, Pa. and is an industry-leading snacks company known for bringing goodness to the world through its iconic brands, remarkable people and enduring commitment to help children succeed. Hershey has approximately 17,000 employees around the world who work every day to deliver delicious, quality products. Hershey has more than 90 brands around the world that drive more than $8 billion in annual revenues, including such iconic brand names as Hershey’s, Reese’s, Kit Kat®, Jolly Rancher, Ice Breakers, SkinnyPop, and Pirate’s Booty. In March 2021, Hershey announced new commitments to advance its environmental progress and contribute to global climate action, including ambitious new goals to reduce its global emissions in line with the global best practice of the Paris Climate Agreement, to limit global temperature rise to 1.5°C. For more than 125 years, Hershey has been committed to operating fairly, ethically and sustainably. Hershey founder, Milton Hershey, created the Milton Hershey School in 1909 and since then the company has focused on helping children succeed. To learn more visit www.thehersheycompany.com.

About First Solar

First Solar is a leading American solar technology company and global provider of responsibly-produced eco-efficient solar modules advancing the fight against climate change. Developed at R&D labs in California and Ohio, First Solar’s advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. From raw material sourcing and manufacturing through end-of-life module recycling, First Solar’s approach to technology embodies sustainability and a responsibility towards people and the planet. For more information, please visit www.firstsolar.com.

National Grid Renewables is repowering America by reigniting local economies and reinvesting in a sustainable, clean energy future.

Related

Cordi O Hara

Cordi O'Hara

Chair of the National Grid Renewables Board & President, National Grid Ventures

In her role as President of National Grid Ventures (NGV), Cordi is responsible for the development, financing, construction and operation of large-scale energy assets, including: electricity interconnectors; LNG storage and regasification; onshore wind and solar generation; and competitive transmission.

Prior to joining NGV, Cordi was Chief Operating Officer, US Gas Business for National Grid; where she was accountable for the safe, reliable and affordable operation of National Grid’s gas distribution businesses across the New York, Massachusetts and Rhode Island service territories on behalf of the company’s 3.6 million customers.

Cordi also ran the UK System Operator for National Grid, where she oversaw the strategy, planning and operation of over 14,000 miles of gas and electricity networks in Great Britain. In her tenure in this role she integrated over 14 GW of renewable, clean energy into the UK system. She has advocated for innovative solutions to a decarbonized energy market, including clean technology solutions and new demand response initiatives.

Cordi became a fellow of the UK Energy Institute in 2016, acknowledging her significant experience in UK and European energy markets and networks, and was awarded an OBE in 2019.

Cordi has more than 20 years’ experience in the energy industry, managing key relationships with government officials, regulators and customers. She has overseen transformation efforts to improve the customer experience across the National Grid businesses in the United States and the United Kingdom. Prior to joining National Grid, Cordi worked for Centrica, the largest UK energy retailer, in a variety of commercial and operational roles; including serving 11 million customer accounts in the United Kingdom.

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