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PepsiCo, Best Buy, McCormick & Company, and two Viacom CBS TV stations have signed long-term agreements to receive energy and corresponding renewable energy certificates (RECs) from the Big Star Solar Project under development in Bastrop County, Texas. The companies will receive energy and RECs as part of their overall retail electric supply contract with energy solutions provider Constellation.
To simplify the purchase, each of the customers will use the Constellation Offsite Renewables (CORe) retail power product, which increases a business’s access to new-build renewable energy projects by “removing the significant hurdles associated with traditional offsite power purchase agreements,” according to Constellation.
RWE Renewables, one the world’s leading renewable energy companies, is building the solar project, which is expected to reach commercial operation by Q2 2022. The 10-year customer agreements begin in 2022. The 200 MW solar facility will be coupled with an 80 MW/120 MWh battery storage system, writes Solar Industry magazine.
Collectively, the companies’ commitment is expected to help reduce carbon dioxide emissions associated with their energy use by more than 257,000 metric tons each year.
With this agreement, PepsiCo will continue to work toward its goal of reducing emissions across its value chain by more than 40% by 2030 and to achieve net-zero emissions by 2040.