EDP Renewables SA, through its wholly owned subsidiary EDP Renewables North America LLC(EDPR NA), and Bristol Myers Squibb have entered into a 15-year power purchasing agreement (PPA), for 60 megawatts of solar energy at the 240-MW Cattlemen Sunpark in Milam County in central Texas.
EDP Renewables North America will be able to continue developing Cattlemen Solar Park. The park has an estimated capital investment in excess of $280 million. It is expected to become operational in 2023. Economic benefits will include landowner payments and tax payments of $55 million. These payments will support local schools, other essential community services, as well as job opportunities and increased money spent at local businesses. Cattlemen will also be able to save around 304 million gallons per year. This is approximately the amount of water required by traditional generation sources to produce the same capacity as the solar parks.
Bristol Myers Squibb has declared that it will buy 100 percent of its electricity from renewable sources by 2030, consistent with its long-term environmental sustainability goals. This is a significant step towards achieving this goal. The PPA with EDP Renewables’ Cattlemen Solar Park represents a significant milestone. BMS was assisted by Edison Energy, LLC, who provided data and analytics that allowed it to analyze the long-term consequences of its investment.
“BMS, a global leader in biopharmaceutical, recognizes the importance of climate change to human health. Our commitment to transforming patients’ lives through science underpins environmental sustainability,” stated Danielle Menture (Vice President, Sustainability, EHS, and Occupational Health). This agreement is not only a significant milestone in our sustainability journey, but it is also a step towards a cleaner energy future for all.
EDP Renewables North America CEO Sandhya Ganapathy stated that “we are thrilled to partner with Bristol Myers Squibb in this arrangement that will assist in making further strides towards achieving their environmental objectives.” “Texas is the leader in solar and wind storage capacity and EDPR is pleased to be able to provide more solar energy online for the Lone Star State.
EDP Renewables is a leader in Texas’s renewable energy sector. The company currently owns and manages six wind energy projects in Texas. These have a total of 1,089 MW capacity. This is enough to generate electricity for more than 236,000 homes. EDP Renewables, with its more than 550 employees and an estimated $1.9billion in capital investment, has greatly contributed to Texas’ economy through its projects and its North American headquarters located in Houston.