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

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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.

National Grid Renewables

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.”

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