Plenitude, the power transmission arm of Italian oil and gas company Eni SpA (BIT:ENI), has commissioned a 263MW Golden Buckle solar plant in Texas to power U.S. retailer Target Corp (NYSE:TGT).
Located 50 miles south of Houston in Brazoria County, Texas, the photovoltaic (PV) farm is the largest solar facility Plenitude has installed to date. The construction phase took just over 12 months, the Italian firm said on Friday, adding that the project was completed on time and on budget.
Golden Buckle is expected to produce between 400 GWh and 500 GWh per year, enough to cover the consumption of about 45,000 homes. Most of the electricity is purchased by Target Corp under a long-term power purchase agreement (PPA). The contract was signed in 2021 along with two more deals supporting the retail giant’s goal of getting 100% of its electricity from renewable sources by 2030.
Novis Renewables LLC, a partnership between Eni New Energy US Inc and Renantis North America, Inc, developed the project.
Plenitude aims to have 15 GW of installed capacity by 2030 and achieve carbon neutrality by 2040. Commenting on the commissioning of the Golden Buckle, CEO Stefano Goberti said: “This is another step towards increasing our renewable generation capacity, which exceeded 2 GW at the end of 2022, in line with our goal of reaching over 6 GW globally by 2025. .”.
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