Wells Fargo has entered into a 10-year structured renewable energy agreement with Reliant, an NRG Energy company.
The new agreement will provide about 62,000 megawatt-hours of solar energy annually to approximately 400 Wells Fargo properties from a new utility-scale solar facility in Texas. The new agreement is the bank’s largest contract to date in support of its corporate strategy to advance the development of new sources of renewable energy in order to meet its electricity needs.
The NRG Renewable Selectsm plan will provide 100 percent of the bank’s total annual requirements in the Electric Reliability Council of Texas (ERCOT) region and 3 percent of the company’s national load.
The NRG agreement is the first significant transaction under Wells Fargo’s strategy to contract with providers of renewable energy resources geographically close to its load centers. Wells Fargo is pursuing similar agreements across the United States as part of its long-term e