EDP Renewables, through its fully-owned subsidiary EDP Renewables North America LLC(EDPR NA), and Bristol Myers Squibb were able to execute a 15 year power purchase agreement (PPA), covering 60 MW at the 240 MW Cattlemen Solar Park in Milam County. This solar park is located in central Texas.
The agreement will allow EDPR NA, which has a capital investment of approximately $280million, to continue developing Cattlemen Solar Park. It is expected to be operational by 2023.
Bristol Myers Squibb stated that it will purchase 100% of its electricity from renewable sources, in accordance with its long-term environmental sustainability goals. The PPA with EDP Renewables’ Cattlemen Solar Park marks a significant step toward achieving this goal. Edison Energy LLC served in the capacity of 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, vice president of sustainability, EHS and occupational health. “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.”