Shell Turns to NextEnergy Capital for PPA In the United States

PV TechJune 2, 2020924

Summary:

Shell is another gas company that has signed a solar power purchase agreement. The power purchase agreement was signed with NextEnergy.

Main Article:

Shell Turns to NextEnergy Capital for PPA In the United States

NextEnergy Capital (NEC) has entered into two separate ten-year power purchase agreements with Shell Energy North America for the power from two US-based solar farms.

The deal will see Shell Energy North America, the US and Canada-facing utility and energy solutions arm of the oil and gas major, procure around 62GWh of solar power each year – equivalent to approximately 90% of the portfolio’s output – from two solar farms with a combined generation capacity of 45MW.

Also included in the deal are an equivalent amount of Renewable Energy Certificates for five years.

The solar panel installation projects in question – Briel Farm and Fardy’s Mill, both located in Virginia – form part of NEC’s NextPower III fund’s portfolio, which amounts to 250MW.

Both projects are currently under construction with commissioning anticipated before the year’s end.

Lorena Ciciriello, managing director at NEC, described the execution of the contracts as a “landmark” for the institutional fund, adding that the company was delighted for the projects to support decarbonisation progress in a historically “coal-centric state” such as Virginia.

“We’re proud to be working with NextEnergy Capital to enable further development of renewable energy assets that provide the kind of energy solutions that society demands,” Glenn Wright, president at Shell Energy North America, said.

Shell Energy North America provides utilities, retailers and businesses with power, gas and other energy-related solutions, professing to have a generation capacity in excess of 10GW.

Shell’s wider interest in solar energy has continued to climb, driven by a now established goal to attain net zero status by 2050. That target will see it invest more significantly in solar panels and other renewable energy , seemingly expanding on a portfolio of clean energy investments that includes a stake in US-based developer Silicon Ranch.

Want to see how a solar system will look on your rooftop? Use the HahaSmart design DIY tool and then use the price checker tool to see how much you can save by switching to solar.

Solar system price checker

Comments

Design Your Solar Home

START

Hot spots

12 3

Input your address to see if it is solar friendly and how much you can save with solar.

Great. Your address is perfect for solar. Solar incentive is still available. Select monthly utility cost and calculate the size of solar system you will need now.

Whoa ! Going solar is definitely a smart decision.

kw System size years Payback period Lifetime savings

No money down, 100% finance is available.

adv

Go Solar in the United States and Sign Up Today!

Do not show this information again.