September 18 (Renewables Now) - Baltimore-based energy supplier Constellation, part of Exelon Corp (NYSE:EXC), today said it has found three off-takers for a 175-MW solar farm in Virginia.
Johns Hopkins University, herb and spice supplier McCormick & Company (NYSE:MKC), and discount retailer TJX Companies Inc (NYSE:TJX) will be buying the power and renewable energy certificates (RECs) from the Skipjack Solar Center for 15 years. The solar park is being built by US firm sPower on former working timber land and is planned to start operations in 2021.
The three customers will get the power under Constellation’s Offsite Renewables (CORe) retail power product, which the company developed to make it easier for commercial customers to go renewable by removing the hurdles associated with traditional offsite power purchase agreements (PPAs). Constellation will purchase the output and RECs from the solar park and sell them to the customers.
For Johns Hopkins University, the transaction supports a goal of cutting carbon emissions by 51% by 2025. At McCormick & Company, the solar-generated electricity will be supplied to the company’s corporate headquarters, four manufacturing plants, and two distribution centres in Maryland and New Jersey.
sPower is a joint venture between The AES Corp (NYSE:AES) and the Alberta Investment Management Corp (AIMCO).