T-Mobile has entered into a long-term agreement to participate in Nexamp’s New York community solar program, as a part of T-Mobile’s broader efforts to achieve its science-based carbon emissions targets.
Under the terms of the deal, T-Mobile has subscribed to 10 separate Nexamp solar farms representing more than 50MW of total project capacity across Maine, Massachusetts and New York.
10 projects broken down by state, total size and utility:
- 3 MA projects totaling 8.7 MW (2 NGrid, 1 Eversource)
- 5 ME projects totaling 30.4 MW (4 CMP, 1 Versant)
- 2 NY projects totaling 12.6 MW (2 NYSEG)
While T-Mobile will realize significant savings through discounted credits applied to its electric bills in three different utility zones, having such a large anchor tenant guaranteeing the viability of 10 projects will allow local electric customers interested in participating in clean energy to subscribe to the projects and receive discounts on their electricity bills.
Back in 2018, T-Mobile was the first wireless provider to commit to the RE100 goal of sourcing 100% of its total electricity use with renewables by the end of 2021, and in early 2022 the company announced that it had done it. To achieve that benchmark, T-Mobile developed a renewable energy strategy that includes virtual power agreements, retail agreements, a Green Direct program, unbundled Renewable Energy Certificates, as well as subscriptions to community solar installations.
This recent agreement is similar to one Nexamp came to with Walmart in New York, when the retail giant agreed to be the anchor subscriber supporting support 129 MW of community solar projects across the state. Walmart subscribed to a total of 23 projects, representing roughly 50MW of capacity.
In August 2021, Nexamp closed a $440 million senior secured credit facility for a 380 MW portfolio of solar and energy storage assets. The portfolio covers five states and includes some 100 community solar projects, including energy storage capacity totaling 120 MWh. MUFG Union Bank served as the lead arranger for the syndicated financing, which included a group of lenders. At the time, Nexamp said it has nearly 300 new solar and storage projects in its development pipeline.
NRG served as the RFP consultant for T-Mobile, and Nexamp will be the long-term owner of the projects.
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