MINNEAPOLIS, April 22, 2020 /PRNewswire/ -- Geronimo
Energy (Geronimo), a National Grid company, and Cargill
announced today the execution of a Virtual Power Purchase Agreement
(VPPA) for the Prairie Wolf Solar Project (Prairie Wolf) in
Coles County, Illinois. The
contract marks the second renewable energy VPPA executed between
Cargill and Geronimo, the first being for a portion of the Crocker
Wind Farm in Clark County, South
Dakota.
Prairie Wolf is a 200 megawatt (MW) clean solar energy project
located in the Midcontinent Independent System Operator (MISO)
market. The project is anticipated to begin operations at the end
of 2021. Once operational, Prairie Wolf is poised to represent the
largest single solar investment in the State of Illinois, as well as one of the
largest solar developments east of the Mississippi and one of the largest single
project VPPAs in the country. Using the
United States' Environmental Protection Agency's (EPA)
greenhouse gas equivalencies calculator, the project is estimated
to offset carbon dioxide emissions by 285,000 metric tons
annually.
"We're pleased to partner with Geronimo Energy on another
renewable energy project that moves Cargill in the right direction
toward our goal of reducing greenhouse gas emissions from our
operations by 10% by 2025. This new solar power project is the
latest example of how we are working with partners to change the
way we power our operations, taking advantage of the economic and
environmental benefits of renewable power," said Eric Hoegger, Director of Global Renewable
Energy for Cargill.
Geronimo has successfully developed over 400 MW of operational
renewable energy projects in Illinois, including the Green River and Walnut
Ridge Wind Farms in Lee,
Bureau, and Whiteside counties. Geronimo's long and
positive history of development in the state of Illinois translates to strong support for
Prairie Wolf.
"The Coles County Board is
happy to welcome a new enterprise like Prairie Wolf Solar to
Coles County," stated Stan Metzger, Coles
County Board member and Planning and Development Committee
Chair. "This project will bring new jobs and add value to the land.
New construction projects like this also help ease the burden on
local property taxpayers, as well."
Current estimations for Prairie Wolf's economic benefits total
over $40 million throughout the first
20 years of operation, including positive impacts in new tax
revenue, construction jobs, new full-time jobs, and charitable
funds through the project's Education Fund. The Prairie Wolf
Education Fund alone will offer approximately $800,000 in donations to the local school
districts connected to the project above and beyond all tax revenue
and local spending benefits.
"National Grid is delighted for Geronimo to bring this project
forward as part of our U.S. renewable energy project portfolio and
to continue driving the evolution and decarbonization of America's
electric grid," stated Daniel
Westerman, President, Distributed & Renewable Energy for
National Grid. "Prairie Wolf is a clear example of how
organizations such as Cargill play a critical role in creating a
future that is climate-positive."
"In addition to being climate-positive, Prairie Wolf is also an
agriculture-positive project," added Blake Nixon, Chief Executive Officer for
Geronimo. "Renewable energy projects like Prairie Wolf provide much
needed stability and predictability for America's farming
communities. It is fitting that a company like Cargill, an
agri-business committed to farmers and the communities they serve,
contracts for a project that will benefit the local rural economy
and further Geronimo's own commitment to conduct business in a
farmer-friendly manner."
About Geronimo Energy
Geronimo Energy, a National Grid
(NYSE: NGG) company, is a leading North American renewable energy
development company based in Minneapolis,
Minnesota, with satellite offices located throughout
multiple states in the regions where it develops, constructs, and
operates. As a farmer-friendly and community driven company,
Geronimo develops projects for corporations and utilities that seek
to repower America's grid by reigniting local economies and
reinvesting in a sustainable future. Geronimo has developed over
2,400 megawatts of wind and solar projects that are either
operational or currently under construction, resulting in an
investment of over $4 billion in
critical energy infrastructure and the revitalization of rural
economies. Geronimo has a vast development pipeline of wind and
solar projects in various stages of development throughout
the United States. Please visit
www.geronimoenergy.com to learn more.
About Cargill
Cargill's 160,000 employees across 70
countries work relentlessly to achieve our purpose of nourishing
the world in a safe, responsible and sustainable way. Every day, we
connect farmers with markets, customers with ingredients, and
people and animals with the food they need to thrive.
We combine 155 years of experience with new technologies and
insights to serve as a trusted partner for food, agriculture,
financial and industrial customers in more than 125 countries.
Side-by-side, we are building a stronger, sustainable future for
agriculture.
Contact:
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Lindsay T.
Smith
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|
Geronimo
Energy
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8400 Normandale Lake
Boulevard
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Suite 1200
|
|
Bloomington, MN
55437
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952.358.5672,
lindsay@geronimoenergy.com
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SOURCE Geronimo Energy