White Cap Selects Transparent Energy to Establish VPPA Contract
2024年6月26日 - 9:00PM
Transparent Energy, a leader in transacting sustainable and
traditional energy products, today announced it successfully
consulted for White Cap, a leading distributor of specialty
construction supplies and safety products for professional
contractors with approximately 450 branches across North America.
As a result of the engagement, which leveraged Transparent Energy’s
process efficiency, developer relationships, and transactional
expertise, White Cap signed a 10-year Virtual Power Purchase
Agreement (VPPA), establishing the company as the primary offtaker
of a new, greenfield solar project in Lamar, TX. This new solar
facility is expected to reach commercial operations in 2025,
generating ~170,000 MWh of sustainable electricity per year.
The new VPPA – a financial contract that provides
the project developer guaranteed funding and the primary offtaker,
White Cap, with the renewable energy attributes associated with the
energy produced by the project – completes a nine-month process
with Transparent Energy. By marketing the opportunity to a who’s
who of reputable global renewable project developers; introducing
those developers to White Cap and helping the company select the
right project; and negotiating and executing the final VPPA
contract, Transparent Energy guided White Cap to a strategic
portfolio solution while conservatively delivering over $2
million in savings.
“As the largest North American distributor of
specialty construction supplies with approximately 450 locations
and 10,000 employees, White Cap has a responsibility to minimize
our environmental impact,” said Alan Sollenberger, CEO of White
Cap. “Working with like-minded organizations such as Transparent
Energy allows White Cap to make our commitment to a more
sustainable future a reality.”
Added Jeremy Lo, Executive Vice President of
Renewables at Transparent Energy, and senior lead in the
engagement, “Renewable energy markets, including those for VPPAs,
can be extremely opaque for buyers, making it hard for them to know
if they are making the best purchasing decision. At Transparent
Energy we specialize in helping clients make apples-to-apples
comparisons on an array of renewable and traditional energy
products, while also amplifying competition among suppliers of
these products, so that customers get the right product for their
business at the best possible price. We have appreciated the
opportunity to apply our market-leading process to help White Cap
identify and execute this VPPA, delivering value in the form of
both price savings and product optionality in the contract.”
White Cap will contract up to 150,000 MWh annually
from the Tyson Nick Solar Project, a 746-acre, 114 MW solar farm
that will be located approximately 90 miles northeast of Dallas in
Lamar County, TX. The project is expected to create up to 200 jobs
in the area during construction and to have an annual output of
approximately 170,000 MWh, enough to serve the electric needs of
15,000 households. White Cap’s total projected offtake of 1.50
billion kWh over the course of the contract is enough to power the
Empire State building for over 40 years.
Wherever your organization is in its sustainability
journey, whether just beginning or well on its way, Transparent
Energy is here to empower you on your mission to turn strategy and
insight into actionable impacts. For more information on
Transparent Energy’s market leading energy advisory,
sustainability, and procurement services, or to sign up for the
company’s monthly market analysis, please see
www.transparentedge.com or contact info@transparentedge.com.
About Transparent
EnergyTransparent Energy is the go-to resource for C&I
companies and institutions for renewable and traditional energy
procurement and advisory services. The company’s clients include
large associations and automotive, crypto mining, cultivation, data
center, distribution, education, financial services, healthcare,
life sciences, manufacturing, private equity, real estate (REITS
and property management), retail, and technology firms. With a
proven process delivered by retail energy’s most experienced
professionals and state-of-the-art online auction technology,
Transparent Energy has driven hundreds of millions of dollars in
operational savings for clients across North America. For more
information, see www.transparentedge.com.
Contacts:
Business inquiries:
Jeremy Lojlo@transparentedge.com
Media inquiries:
Dan Mees for Transparent
Energydan@meescommunications.com