National Grid Renewables Signs Power Purchase Agreement with Microsoft

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Oct 01, 2024, 15:30 ET

250 MW Portage Solar Project located in Portage County, WI

MINNEAPOLIS, Oct. 1, 2024 /PRNewswire/ -- National Grid Renewables is pleased to announce the execution of a power purchase agreement (PPA) with Microsoft for its Portage Solar Project, a 250-megawatt (MW) development located in Portage County, Wisconsin.

"It's exciting to see business development and economic growth in our neighboring state of Wisconsin," said Blake Nixon, President of National Grid Renewables. "Through our contract with Microsoft, we are providing Wisconsin residents direct and indirect revenue streams from Portage Solar. The project will not only benefit the local communities through the production of new tax revenue and job creation, but it also contributes a clean, sustainable energy solution for years to come."

Portage Solar is estimated to begin construction in 2025 and reach operation in 2027. The project 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 goes above and beyond any tax revenue delivered by the project. These charitable funds are unique to National Grid Renewables and exemplify how they commit to being good neighbors within the communities in which their projects are built. In total, the direct economic impact of Portage Solar is estimated to reach approximately $88 million over the first 25 years of operations.

Additionally, as part of the agreement with Microsoft, National Grid Renewables will donate an additional $20 million over the term of the agreement to a community fund. Sustain Our Future Foundation will receive and distribute these funds to support under-resourced communities and communities disproportionately impacted by pollution.

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.