Back 15/11/2023 Photovoltaic

Greenalia signs virtual VPPA with JTEKT North America Corporation and reinforces its US growth strategy

Greenalia, a renewable energy producer, through its American division Greenalia Power US subsidiary Excel Advantage Services, LLC (hereinafter “Greenalia”), has entered into a virtual power purchase agreement (VPPA) with South Carolina-based JTEKT North America Corporation (JNA), the North American subsidiary of JTEKT Corporation.

Greenalia, now developing Misae II solar plant in Texas, will source JTEKT with 142.8MW of environmental value per year through renewable energy generation. This environmental value will offset JNA CO2 emissions by approximately 124,600 tons per year, equivalent to the total electricity consumption of all production sites in North America.

The Misae II project, through which Greenalia will supply energy to JNA within the framework of this agreement, represents an increase in renewable production at a global level, with the consequent contribution to the global decarbonization process. The project will be developed in several stages. In first phase, it will reach a 319 MWdc approximated installed capacity and the PPA with JNA will represent 60% of the plant’s total planned power. Misae II is expected to reach 695 MW dc.

Greenalia’s CEO, Manuel García, stated that the signing of this VPPA is “an important milestone for the company’s US development, where we currently have a 3 GW portfolio diversified through projects in three technologies -solar, wind and batteries-. We are currently exploring other similar agreements with relevant companies such as JNA“.

About Virtual PPA 

A virtual PPA (VPPA) is a “virtual power purchase agreement,” meaning that only the environmental value based on the amount of electricity generated from a renewable energy power plant built outside the consumer’s premises is traded, without involving actual electricity. The consumer can procure Renewable Energy Certificates (RECs) without having to change their electricity supplier.

JTEKT North America Corporation

JTEKT North America Corporation, part of JTEKT Corporation, was founded in 2006 through the merger of Koyo Seiko, Co., LTD and Toyoda Machine Works, LTD, forming a new global company combining modern technology with a rich heritage of quality.

With more than 5000 associates and 23 facilities, including 12 manufacturing sites, 3 Technical Centers and 5 Distribution Centers, JTEKT North America manufactures a broad range of products for the automotive, marine, power sports, industrial and agricultural equipment, and aerospace and defense industries under a number of well-known JTEKT brands: JTEKT Automotive Systems, JTEKT Bearings, Torsen and JTEKT Machinery Americas Corporation.

 

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