Morning Brief: Home Depot and Enel signa power contract, National Grid rebrands its renewable arm

Home Depot and Enel have come to terms on a power contract for a 75 MW portion of the  284 MW Azure Sky solar project, which is currently under construction. The energy Home Depot is procuring annually from the project will be enough to power more than 150 Home Depot stores. The contract also marks Home Depot’s largest singular renewable energy procurement to date, and marks significant progress toward the company’s new sustainability goal to produce or procure 335 MW of renewable or alternative energy, as outlined in the company’s 2020 Responsibility Report. Source: Solar Builder

National Grid has rebranded its US renewable energy business, which now goes by the name National Grid Renewables. This rollout builds on National Grid’s acquisition of North American wind and solar developer, Geronimo Energy, in July 2019, as the company aims to decarbonize its energy system. Geronimo became National Grid’s onshore renewables development team, and has signed over 500 megawatts of announced contracts with customers since last summer’s acquisition. Source: National Grid

CollectiveSun, a San Diego company that helps nonprofit organizations convert to solar energy, announced over $4 million in funding for projects at five nonprofits. The company’s SunForAll solar fund provided both grants and low-interest loans to cover all of the up-front costs for converting facilities that will be used by the social service organizations. It’s the second round of funding under the special fund, which leverages solar tax benefits that are normally unavailable to nonprofits due to their tax-exempt status. The recipient nonprofits are: the San Diego Center for Children, Barrio Logan College Institute, Casa de Amparo and San Ysidro Health. Source: Times of San Diego

EDP Renewables North America has closed a 15-year power purchase agreement to sell the energy generated by two Ohio solar projects, totaling approximately 100 MW. The two installations are expected to be completed by 2022. With this new agreement, EDPR has now secured 85% of the roughly 7.0 GW targeted wind and solar global capacity build-out for the 2019-2022 period, which was first outlined in the company’s Strategic Update on March 12, 2019. Source: EDP Renewables North America