EDP Renewables and Bristol Myers Squibb have executed a power purchase agreement (PPA) for 60MW at the 240MW Cattlemen Solar Park in Texas, US.
The 15-year contract, part of the market notification EDPR issued on 11 April 2022, enables the developer to progress Cattlemen, which has an estimated capital investment of approximately $280m and is slated to be operational in 2023.
The Bristol Myers PPA is one of two for Cattlemen announced on 11 April, while the other is for 156MW, enabling EDPR to sell 90% of the clean energy produced by the solar farm.
Cattlemen, in Milam County, is expected to enter in operation in late 2023.
Bristol Myers Squibb, in line with its long-term environmental sustainability goals, has stated that by 2030 it will purchase 100% of the electricity it uses from renewable sources.
The PPA with EDPR’s Cattlemen Solar Park is a step toward achieving this goal.
Edison Energy served as advisor on the deal, providing data and analytics that enabled Bristol Myers to examine the long-term implications of its investment.
“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,” said 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.”
EDPR owns and operates six wind farms in Texas, totalling 1089MW of capacity.