MP2 Energy said June 9 that it has been awarded a five-year retail electricity contract with Toyota Motor North America to provide 100% renewable energy solutions to Toyota’s new North American headquarters in Plano, Texas.
The contract takes into consideration the forecasted hourly energy consumption for the approximately 2.1 million square-foot campus comprised of office space and office support, a data center and light industrial and light automotive service facilities. The five-year deal also supports 7.75 MW of on-site solar generation at the new headquarters through MP2 Energy’s Net Energy Billing program for the purchase of all excess solar generation. The remaining electricity MP2 procures for Toyota will be 100% renewable, sourced from various resources including local Texas wind and off-site solar.
“This deal showcases our innovative solar power solutions, namely our highly customizable approach to solar solutions to reduce retail supply rate,” said Jeff Starcher, chairman and CEO of MP2 Energy. “Toyota is one of the world’s premier automotive companies, and we were proud to negotiate a creative supply model for their new Texas headquarters.”
MP2 will also provide Toyota with supply flexibility and innovation for risk management, including the possibility of future integration of demand response and other on-site generation.
Traditionally, solar energy has been offered exclusively through long-term contracts, most of which begin at 20-year terms. This deal, however, is a shorter five-year agreement, improving Toyota’s ability to forecast its energy costs and adjust accordingly. By taking this purchase position on solar energy, Toyota is able to consume reliable energy and meet its electric needs without being exposed to the price movement associated with natural gas and the real time spot market for power.
“We are dedicated to making sure our new headquarters campus supports – even redefines – Toyota’s commitment to the environment,” said Kevin Butt, Regional Director, North American Environmental Division of Toyota Motor North America. “The Plano solar system will not only reduce our environmental footprint and educate team members about renewable energy, it moves us closer to Toyota’s 2050 global environmental challenge to eliminate carbon emissions in all operations.”
As part of its overall sustainability effort, Toyota engaged Priority Power Management to negotiate a comprehensive retail electricity supply contract with MP2 Energy, including the integration of a 7.75-MW solar-generated power system located behind the utility meter.
“We chose MP2 Energy because of its competitive pricing and ability to integrate solar power into its electricity supply,” said John Bick, managing principal at Priority Power Management.
Toyota’s new North American headquarters will house 4,000 employees that will manage 14 regional offices across the United States. Oncor will serve as the chosen Transmission Distribution Service Provider (TDSP).
MP2 Energy is a full service power company, serving approximately 1,300 MW to commercial, industrial and residential customers in Texas, Illinois, Pennsylvania and Ohio.
Priority Power Management is a leading Texas-based independent energy management and consulting services firm to large commercial, industrial and government customers. Since its establishment in 2001, Priority Power Management has grown to procure and manage approximately $1 billion of annual energy spend on behalf of clients from its offices in Midland/Odessa, Dallas/Fort Worth, Houston and Abilene.