Meet 90% of customers’ aggregate electric load across all Texas facilities with renewable energy from a new, location-specific, renewable generation resource
Simplified, effective, retail power supply contract for solar and RECs, administered by MP2 Energy
Customer: Cargill, Incorporated
A global corporation engaged in food, agriculture, financial services, industrial materials, and more, with six facilities in ERCOT (Electric Reliability Council of Texas).
Customer: Ardent Mills, LLC
The premier flour-milling and ingredient company with more than 35 flour mills and bakery-mix, along with a speciality bakery and Mobile Innovation Center, all located in the U.S., Canada, and Puerto Rico, including three in ERCOT.
Renewables Developer: Misae Solar Parks LLC
Developer of two of the largest solar parks in Texas, Misae Solar Park I and II, in Childress County, the former serving as the solar farm on this project.
Wholesale Offtaker: Shell Energy North America (US) L.P (SENA)
A subsidiary of Shell Oil Company offering tailored energy solutions including green energy supply, financial risk management, natural gas, and distributed generation.
Retail Electric Provider: MP2 Energy LLC
A wholly-owned SENA subsidiary and full-service energy company providing retail supply, power plant and on-site generation management, renewable energy solutions, and more.
MP2 structured the retail agreements jointly with the customers, Cargill, Incorporated and Ardent Mills, LLC, in parallel with SENA as it negotiated the commercial terms of the physical offtake from Misae Solar I. Through MP2, Cargill and Ardent Mills agreed to purchase both renewable energy and renewable energy credits (RECs) directly from Misae for a period of 67 months, beginning in May 2021. As SENA offtakes the energy, MP2 firms and shapes it to match Cargill’s and Ardent Mills’ respective energy profiles across their Texas locations, and delivers it to meet the desired 90 percent aggregate renewable energy target the customers specified.
Because execution of the retail agreement came prior to the renewable project reaching its commercial operation date, the deal is one of MP2’s Platinum Off-site Renewable Solutions.
In a deregulated market such as ERCOT, an integrated solution combining a physical PPA (power purchase agreement) with retail supply offers unique benefits:
We’re pleased to partner with MP2 and Misae Solar Park I on structuring a new physical renewable power purchase that further contributes to Cargill’s goal of reducing direct greenhouse gas emissions from our operations by 10 percent by 2025. This new retail transaction structure allows both Cargill and Ardent Mills to add clean solar power to our plants within ERCOT starting in Q2-2021, avoiding additional energy market risk, while supporting the addition of new renewable power to the grid. The structure of this retail energy transaction is another tool available to corporate energy managers to simplify purchasing physical renewable energy.”
The partnership we’ve formed with MP2 and Misae Solar Park I is a great example of businesses coming together to find innovative, simplified solutions for purchasing physical renewable energy in a deregulated market. Being able to add clean solar power to our community mills is not only great for the Texas communities we operate in, but for Ardent Mills as we continue to make progress towards our goal of having 50 percent of our U.S. electricity consumption be renewable by 2025."
We’re happy to help Cargill and Ardent Mills advance on their sustainability journey by combining a physical offtake from a new renewable project with an innovative and yet simple retail transaction from MP2.”
SENA is currently in negotiations with many renewable energy assets, in various stages of development. With the benefit of SENA's strong balance sheet, capacity, and industry knowledge, MP2 Energy is perfectly positioned to help more clients meet their sustainability goals with innovative solutions similar to this one, utilizing SENA’s growing portfolio of renewable offtake agreements.
Represents Cargill and Ardent Mills' first physical renewable energy offtakes in North America
Delivers 760,000 MWhs over the life of the agreement
Meets 90% of customers’ aggregate energy needs with renewable energy
Offsets 56,000 metric tons of Scope 2 CO2 emissions annually
To hear how you can expand your customer base by becoming a solar, storage, or EV installer for MP2, contact us today.