(Nucor, 13.Nov.2020) — Nucor Corporation signed a 15-year Virtual Power Purchase Agreement (VPPA) with EDF Renewables North America (EDFR) for 250 megawatts (MWac) of new solar energy in Texas. The agreement, which will enable EDFR to add more clean energy to the region’s power grid, is Nucor’s first VPPA and the largest of its kind for the steel industry.
Construction on EDFR’s solar project is expected to begin in the summer of 2022 with production of electricity estimated to begin in 2023. Once completed, the expected annual output of the solar facility will be the equivalent of the electricity consumed by nearly 50,000 average Texas homes.
“Nucor’s decision to procure solar energy allows this project to move forward into construction, which will provide an economic boost to the local economy through new construction jobs and expanded tax base,” said Ryan Pfaff, Executive Vice President, Grid-Scale Power at EDF Renewables.
GreenFront Energy Partners, an alternative energy advisory firm based in Richmond, Virginia, acted as Nucor’s financial adviser on this transaction. WattTime, a clean energy-focused subsidiary of the Rocky Mountain Institute, assisted Nucor with evaluating the avoided emissions impact of the agreement.