EDP Renewables (EDPR), by means of its EDP Renewables North America LLC (EDPR NA) subsidiary, and Bristol Myers Squibb (BMY) have executed a 15-year power buy settlement (PPA) for 60 MW of the 240 MW Cattlemen Solar Park in Milam County, positioned in central Texas.
The settlement will allow EDPR NA to additional develop Cattlemen Solar Park, which has an estimated capital funding of roughly $280 million and is anticipated to be operational in 2023.
Bristol Myers Squibb, consistent with its long-term environmental sustainability objectives, has acknowledged that by 2030 it is going to buy 100% of the electrical energy it makes use of from renewable sources. The PPA with EDP Renewables’ Cattlemen Solar Park marks a big step towards reaching this purpose. Edison Energy LLC served as advisors.
“As a leading global biopharma company, BMS recognizes the critical link between climate change and human health, and our dedication to transforming patients’ lives through science underpins our approach to environmental sustainability,” says Danielle Menture, vp of sustainability, EHS and occupational well being. “This agreement not only is an important milepost in our sustainability journey, but also is a step toward a clean energy future for everyone.”
“We are delighted to partner with Bristol Myers Squibb on this arrangement that will help in making further strides toward achieving their environmental goals,” states Sandhya Ganapathy, COO of EDPR North America. “Texas leads the nation in installed wind, solar, and storage capacity, and EDPR is proud to have the opportunity to bring more solar energy online and generate new local and statewide economic benefits in the Lone Star State.”