Today (Nov 21), National Grid Renewables announced the execution of a power purchase agreement with the Illinois Municipal Electric Agency (IMEA) for its Bee Hollow Solar Project (Bee Hollow), a 150-megawatt (MW) development located in St. Clair County, Illinois.
Anticipated to begin construction in 2025, Bee Hollow will join the previously announced Prairie Wolf Solar, located in nearby Coles County, Illinois, and will expand National Grid Renewables' operating solar portfolio in the state to 350 MW.
"We're extremely proud of our deep roots in the Midwest, and our commitment to bringing clean, sustainable energy solutions to its residents remains firm," said Blake Nixon, President and CEO of National Grid Renewables. "The expansion of our portfolio in Illinois will further that commitment and we're excited to see the positive impacts the Bee Hollow Project will provide to local residents in the form of jobs, new tax revenue and charitable giving."
"The addition of the Bee Hollow solar project to our power portfolio significantly advances the IMEA Board's commitment to responsibly transitioning the agency's portfolio to more carbon-free generation resources," said Kevin Gaden, IMEA President and CEO. "Purchasing energy from Bee Hollow meets one of the strategies detailed in our agency's Sustainability Plan which, by 2050, seeks to reduce to net-zero the carbon emissions of the power supply we deliver to our member municipalities. Bee Hollow is a tremendous investment in renewable energy, and we're excited about this resource growth to serve our members over the long term."
Bee Hollow is anticipated to benefit local and statewide communities through the production of millions of dollars in new tax revenue and landowner income, the creation of new jobs, and local spending. The project community will also benefit from a dedicated charitable fund, which is pledged above and beyond any tax revenue delivered by the project. These charitable funds are unique to National Grid Renewables and exemplify their commitment to being good neighbors in their projects' host communities. In total, the direct economic impact of Bee Hollow is estimated to reach $34 million over the first 20 years of operations.
About National Grid Renewables
National Grid Renewables develops, owns and operates large-scale renewable energy assets across the United States, including solar, wind, and energy storage. As a farmer-founded and community-focused business, National Grid Renewables repowers America's electricity grid by reigniting local economies and reinvesting in a sustainable, clean energy future. National Grid Renewables supports National Grid's vision of being at the heart of a clean, fair, and affordable energy future for all. To learn more about National Grid Renewables, visit www.nationalgridrenewables.com or follow the company on LinkedIn.
Media Inquiries
Contact: Emily Morissette
Senior Manager, Marketing & Communications
National Grid Renewables
press@nationalgridrenewables.com
612-504-4839
