The Noble Solar and Storage Project is a 275 megawatt (MW) solar and 125 megawatt (MW) energy storage project currently under construction and located in Denton County, Texas. As announced on Earth Day 2021, 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 with Noble. The project is anticipated to positively impact the environment, as well as the local economy by producing tax revenue, jobs, and contributions through a charitable fund.

Project will contribute millions to local and state economies through tax revenue, landowner income, and jobs

Minneapolis, MN (December 17, 2021) – Today, National Grid Renewables announced the start of commercial operation for its Prairie Wolf Solar Project (Prairie Wolf), located in Coles County, Illinois. The Midcontinent Independent System Operator (MISO) located project boasts 200 megawatts (MW) of clean solar power and is contracted through a Virtual Power Purchase Agreement (VPPA) with Cargill. Prairie Wolf utilizes next-generation Series 6 thin film solar modules developed and produced by First Solar, Inc. (Nasdaq: FSLR) and was constructed by SOLV Energy, formerly known as Swinerton Renewable Energy.

At the peak of construction, Prairie Wolf employed approximately 300 onsite workers. During operation, in addition to new onsite operations and maintenance jobs, Prairie Wolf will benefit local and statewide economies through the production of millions of dollars in new tax revenue and landowner income.

“With the start of operations at the Prairie Wolf Solar site, National Grid Renewables continues to deliver upon its commitment to repower America with clean, economically beneficial renewable energy,” commented David Reamer, Head of Development, US Onshore Renewables for National Grid Renewables. “Thank you to our project customer and partners, as well as the community members, who supported Prairie Wolf and enabled enormous benefit to the local economy and farming community.”

Announced earlier this year, Prairie Wolf will also fund a charitable Education Fund for the local school district. “This development will benefit the county in many ways, including donations through grants to organizations and schools throughout the county,” commented Stan Metzger, Coles County Board Member.

Using the United States’ Environmental Protection Agency’s (EPA) greenhouse gas equivalencies calculator, Prairie Wolf is projected to offset carbon dioxide emissions by 285,000 metric tons annually during operations.

“Cargill is committed to mitigating the pressing issue of climate change and its impacts on our global food system. One of the ways we are doing this is by financially participating in renewable energy sources, such as the Prairie Wolf Solar Project,” stated Eric Hoegger, Director, Global Renewable Energy for Cargill. “Not only will the Prairie Wolf Solar Project play a vital role in helping us reduce our greenhouse gas emissions while contributing to the renewable economy, we’re also honored to contribute to the positive impact it will have on the Coles county community and surrounding counties where Cargill operates multiple plant locations.”

Announced earlier this month, tax equity financing for Prairie Wolf was provided by Bank of America.

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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 energy 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.

National Grid Renewables has a robust development pipeline of wind, solar and battery storage projects in various stages of development throughout the United States, as well as geographically diverse operational assets across the country. It supports National Grid’s vision of being at the heart of a clean, fair, and affordable energy future for all. To learn more about National Grid Renewables, visit www.nationalgridrenewables.com or follow the company on Twitter or LinkedIn.

 
 
Prairie Wolf Solar Project

National Grid Renewables Secures $98 Million in Tax Equity Financing from Bank of America for 200 MW Prairie Wolf Solar Project

Minneapolis, MN (December 7, 2021) – National Grid Renewables announced today the closing of $98 million in tax equity financing from Bank of America to support its Prairie Wolf Solar Project (Prairie Wolf or the project). Prairie Wolf is a 200 megawatt (MW) solar energy project located in the Midcontinent Independent System Operator (MISO) market that began construction earlier this year in Coles County, Illinois. Bank of America is the sole tax equity investor for the project.

“Financing partnerships play an important role in accelerating the growth of renewable energy projects and their associated economic benefits, as well as the decarbonization of the United States energy grid,” stated Blake Nixon, President of National Grid Renewables. “In just two years, National Grid Renewables has raised over $550M in tax equity investments in support of the company’s buildout of renewable generation facilities, and we look forward to energizing additional projects to further benefit local, state and national economies.”

Using the United States Environmental Protection Agency’s (EPA) greenhouse gas equivalencies calculator, Prairie Wolf is estimated to offset carbon dioxide emissions by 285,000 metric tons annually during operation. Prairie Wolf will also benefit local and statewide economies through the production of new tax revenue, the creation of jobs, and increased local spending.

“We are pleased to support the growth of solar energy and help expand more clean energy solutions for communities across the U.S. The financing of the Prairie Wolf Solar Project will help bring much needed renewable energy to the grid in this region and support a more sustainable community,” said Todd Karas, managing director, Renewable Energy Finance at Bank of America.

Since 2007, Bank of America has deployed more than $200 billion to low-carbon, sustainable business activities. Earlier this year, it committed an additional $1 trillion in financing by 2030 to environmental transition. Since 2015, Bank of America has been a top renewable energy tax equity investor and lender in the U.S.

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.

National Grid Renewables has a robust development pipeline of wind, solar and battery storage projects in various stages of development throughout the United States, as well as geographically diverse operational assets across the country. It supports National Grid’s vision of being at the heart of a clean, fair, and affordable energy future for all. To learn more about National Grid Renewables, visit www.nationalgridrenewables.com or follow the company on Twitter or LinkedIn.

 
 
Noble Solar & Storage

Project currently under construction in Denton County, Texas – will contribute millions in economic benefit

Minneapolis, MN (October 28, 2021) – As part of the first annual American Clean Power Week, National Grid Renewables hosted a community event at the Noble Solar and Storage Project (Noble) in Denton County, Texas to celebrate the project’s economic and environmental benefits with community members, landowners, customers, and partners. In attendance were executives from National Grid Renewables and two of the solar project’s previously announced power purchasers, The Hershey Company and NRG Energy. Additionally, Signal Energy (the project’s construction partner), First Solar (the project’s module supplier), and Fluence (the project’s energy storage provider) were in attendance, as well as representatives from Powering Texas.

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Noble, which is currently under construction with an estimated commercial operation date of 2022, consists of 275 megawatts (MW) of solar and 125 MW of battery storage. Using the United States Environmental Protection Agency’s (EPA) greenhouse gas equivalencies calculator, Noble is projected to offset carbon dioxide emissions by 450,000 metric tons annually during operation.

“Not only will the Noble Project benefit our environment, but it will also benefit our economy,” commented Blake Nixon, President for National Grid Renewables. “We anticipate over 475 workers will help build Noble, and millions of dollars will be pumped into the local and state communities during construction. Additionally, throughout the first 20 years of operation, Noble is projected to benefit Denton County and the state of Texas through the creation of approximately $30 million in new tax revenue, several on-site operations and maintenance jobs, and over $1 million in donations funded by Noble through a local charitable initiative.”

“Hershey recognizes the importance of companies reducing their GHG emissions to help protect the environment, and we have made strong commitments to science-based reduction targets to do our part,” said Mark Kline, Senior Manager, Nut & Energy Sourcing, Global Commodities Hershey. “Transitioning our operations to clean and renewable energy is one way we will help achieve our substantial reduction commitments, and the Noble project is a key initiative in our drive to shift to clean energy.”

“NRG has a long-standing commitment to reducing carbon emissions,” said Lynda Clemmons, Vice President, NRG Energy, Inc. “Through the collaboration of local communities and use of renewable energy, we are excited to create a sustainable energy future for our customers.”

Noble will utilize next-generation Series 6 thin film solar modules developed and produced by First Solar, Inc. (Nasdaq: FSLR), Fluence’s sixth-generation Gridstack™ product, and is being constructed by Signal Energy.

“We are excited for the opportunity to partner with National Grid Renewables on the Noble project. National Grid Renewables’ commitment to educating and serving the communities impacted by this project aligns with the core principles that is the soul of our company,” said Ryan Johnson, President of Signal Energy. “We look forward to furthering our partnership with National Grid Renewables and to being good neighbors to the people of Denton County, Texas.”

“The selection of First Solar’s uniquely American solar technology completes the circle of local, regional, and national economic impact that Noble represents,” said Darin Green, Senior Director, Americas at First Solar. “With our responsibly produced and advanced solar technology, Noble is positioned to deliver decades of clean energy to surrounding communities, while helping drive jobs in America’s heartland. First Solar is proud to supply its Series 6 modules alongside valued partners, and we look forward to further growing our partnership with National Grid Renewables to create a sustainable energy future.”

“We are proud to support National Grid Renewables’ Noble project with industry-leading energy storage technology that will help make the electric system cleaner and more resilient,” said John Zahurancik, President, Americas for Fluence. “A uniquely flexible asset, energy storage delivers value to both the electric grid and consumers by enabling greater use of renewable energy and also providing additional critical grid services.”

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.

National Grid Renewables has a robust development pipeline of wind, solar and battery storage projects in various stages of development throughout the United States, as well as geographically diverse operational assets across the country. It supports National Grid’s vision of being at the heart of a clean, fair, and affordable energy future for all. To learn more about National Grid Renewables, visit www.nationalgridrenewables.com or follow the company on Twitter or LinkedIn.

 
 

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