National Grid Renewables, the US-based clean power subsidiary of the UK-headquartered National Grid Group, has finalized two power purchase agreements (PPAs) for its forthcoming Blevins solar project in Texas. The project, with an anticipated capacity of 270MW, will see US pharmaceutical firm Bristol Myers Squibb acquiring 145MW of power and Japanese photography company Fujifilm securing 125MW through the PPAs. Construction is slated to commence next year, with the project expected to be operational in 2025.
Blake Nixon, President of National Grid Renewables, emphasized the company's commitment to renewable energy, stating, “Blevins represents our strong belief that renewable energy projects deliver a sustainable and reliable source of power, all while invigorating the local economies and unlocking new potential for both direct and indirect revenue streams. Projects like Blevins not only benefit Texas with a clean energy solution but also provide reliability and security for the overall electrical grid.”
National Grid Renewables currently manages an operating portfolio of 1.1GW of solar capacity in the US. Once completed, the Blevins project will rank as the third-largest in the company's portfolio, following the Noble solar-plus-storage project in Texas and the Yellowbud solar project in Ohio. The latter project, commissioned in October this year, features a power purchase agreement with Amazon, underscoring National Grid Renewables' strategy to develop new solar projects and supply power to corporate buyers.
The significance of power purchase agreements in advancing global clean energy goals is evident, particularly in Europe, where the need to add over 700GW of new renewable capacity by the end of the decade is pressing. Such agreements offer a compelling financial incentive for driving developments in the renewable energy sector.
Chisato Yoshizawa, General Manager of ESG at Fujifilm, highlighted the company's commitment to addressing climate change, stating, “Fujifilm strives to be a company that contributes to solving society's greatest challenges, including addressing climate change through our business strategy and operations. This PPA is aligned with our policy, which emphasizes securing a stable supply of renewable electricity with additionality.”