Nucor Corporation (Nucor) announced that it has signed a 15-year Virtual Power Purchase Agreement (VPPA) with EDF Renewables North America (EDFR) for 250 megawatts (MWac) of new solar energy in Texas. The agreement, which will enable EDFR to add more clean energy to the region's power grid, is Nucor's first VPPA and the largest of its kind for the steel industry.
Nucor is North America’s largest and most diversified steel and steel products company and is one of the most efficient and cleanest steel producers in the world. EDFR is a market-leading independent power producer and service provider with 35-years of expertise in renewable energy and a portfolio that consists of 16GW of developed projects.
GreenFront Energy Partners (GreenFront) acted as Nucor's financial adviser on this transaction. GreenFront was engaged to design a renewable energy procurement strategy and to run a formal process for soliciting proposals from major renewable energy developers across the country. GreenFront’s high-touch consultative process enabled Nucor to thoroughly evaluate a wide variety of offers from across the company’s operating footprint and ultimately select a project that would have the maximum impact while offering the greatest margin of safety.
Nucor Corporation | https://nucor.com
GreenFront Energy | http://www.greenfrontenergy.com