Minnetonka, MN and Cuba, New Mexico—November 19, 2024 — National Renewable Solutions (“NRS”), a US-based renewable energy developer, owner and operator, announced today that it has closed $145 million in project financing for its 140 MWac solar and 50 MW storage project located in Rio Arriba County, New Mexico, about 30 miles west of Cuba, NM (the “Shallow Basket Project”). The Shallow Basket Project is under construction and is expected to be operational in 2025.

Deutsche Bank provided the construction financing. Guzman Energy will purchase 100 percent of the power and associated renewable attributes. An experienced developer with more than 1.2 GW of projects commercialized, NRS developed Shallow Basket Project and will continue to own and operate the project, marking the company’s first project to finance and manage.

“We are proud to support NRS with the financing of the Shallow Basket Project,” said Jeremy Eisman, Head of Infrastructure & Energy Financing at Deutsche Bank. “This project builds on Deutsche Bank’s dedication and expertise in providing bespoke and creative capital solutions to support the renewable energy transition.”

NRS held a groundbreaking event along with officials from the Jicarilla Apache Nation and Guzman Energy to commemorate the start of construction. Jicarilla Apache Nation is leasing its land for Shallow Basket Project and will also benefit from power produced by the Shallow Basket Project through its wholesale supply agreement with Guzman Energy.

“The Shallow Basket Project embodies our commitment to a sustainable future and economic self-sufficiency for the Jicarilla Apache Nation,” said President Adrian Notsinneh, Jicarilla Apache Nation. “By harnessing renewable energy on our lands, we’re building a legacy of environmental stewardship. We are protecting our environment and creating new opportunities for economic growth that will ensure prosperity for future generations.”

“The financing of Shallow Basket Project represents an exciting turning point for NRS,” said Bill Whitlock, CEO, National Renewable Solutions. “The culmination of years of planning, this solar and storage project supports our strategy of retaining our projects through operation. Thank you to Deutsche Bank for their support. We are grateful for the opportunity to grow our relationship with the Jicarilla Apache Nation as we complete construction and operate the project for the long haul.”

NRS selected Albuquerque-based Gridworks as the engineering, procurement and construction provider. Shallow Basket Project is expected to create 250 jobs over a 12-month construction period.

About National Renewable Solutions

NRS is an emerging renewable IPP which has a rich history and success deploying a community-based stakeholder engagement model for its utility scale wind and solar projects. Founded in 2011, NRS originates, acquires, and develops renewable energy projects throughout the US at various stages, including from greenfield through operations. NRS is owned by an investment fund managed by a subsidiary of BlackRock, Inc. and with its capital markets support and global reach, NRS has positioned itself as a major player in the U.S. renewable energy market. For more information on National Renewable Solutions, please visit www.natrs.com.

Media Contact

Ally Copple
Ally@InnovantPR.com

The Jicarilla Apache Nation published the below press release regarding the Shallow Basket Energy groundbreaking.

RIO ARRIBA COUNTY – August 14, 2024 – The Jicarilla Apache Nation (the Nation) is proud to announce the groundbreaking of Shallow Basket Energy, a significant step forward in sustainable energy development and economic growth for the Nation and the surrounding region. This monumental project, a collaborative effort with National Renewable Solutions and Guzman Energy, will bring a 190 MWac solar and storage installation to the leased land in Rio Arriba County, New Mexico.

Shallow Basket Energy will consist of 140 MWac dedicated to solar power generation and an additional 50 MW dedicated to energy storage. Once operational in 2025, National Renewable Solutions, the project developer, will own the project and Guzman Energy will purchase 100% of the power and associated renewable attributes generated by this project.

Jicarilla Apache Nation is leasing its land for Shallow Basket Energy and will also benefit from power produced by the project through its wholesale supply agreement with Guzman Energy. Shallow Basket Energy will be part of Guzman Energy’s power supply portfolio, serving current and future Guzman Energy wholesale customer power loads.

“Shallow Basket Energy is going to create an affordable, renewable source of power. The fact that it is on Jicarilla Apache Nation land, and will benefit its residents, is especially gratifying,” said Christopher A. Miller, Co-founder and CEO of Guzman Energy.

This initiative represents one of the largest renewable energy installations on tribal land in the United States, showcasing the Jicarilla Apache Nation’s commitment to sustainable development and environmental stewardship. The project will not only harness the sun’s power but also significantly boost local grid reliability.

“We are excited to partner with National Renewable Solutions and Guzman Energy on Shallow Basket Energy. This project symbolizes our commitment to sustainable energy solutions and economic growth for our community,” said Vice President Sonja Newton of the Jicarilla Apache Nation. “We are proud to be at the forefront of renewable energy development on tribal land.”

Currently, the Jicarilla Apache Nation hosts a 50 MWac solar project that powers 87% of City of Albuquerque offices demonstrating the Nation’s ongoing leadership in renewable energy. Shallow Basket Energy builds upon this foundation, promising economic benefits, job creation and a more resilient energy infrastructure for the community.

Once operational, Shallow Basket will produce enough power for 38,000 homes annually and will boost local grid reliability by storing and dispatching power when it’s needed. The energy that this project produces will offset carbon dioxide emissions by an estimated 266,000 metric tons annually.

“Communities are the foundation of each project we develop, and we are thrilled to celebrate the foresight and wisdom of the Jicarilla Apache Nation that helped lead to the creation of the Shallow Basket Project,” said Bill Whitlock, CEO, National Renewable Solutions. “Today we commemorate the start of construction for a major infrastructure project that will produce clean energy and bring annual revenue to the Jicarilla Apache Nation.”

Minnetonka, MN— August 6, 2024 — Today, National Renewable Solutions (NRS or the Company), a US-based renewable energy company founded in 2011, announced four leadership promotions to charge the company’s growth plans.

NRS will have commercialized approximately 1.2 GW of wind, solar and energy storage projects by the end of this year and will transition to owning and operating projects as an independent power producer in 2025.  The Company has a rich history of and success in deploying a community-based stakeholder engagement model for its robust utility scale pipeline.

Lindsey Ransom is now Chief Commercial Officer, Mike Peck is Chief Operating Officer, Vineet Parkhe is Chief Technology Officer and Ben Klassen is Chief Legal Officer.

Bill Whitlock, Chief Executive Officer, NRS, said, “Part of the joy of growing NRS is creating new and expanded opportunities for our people alongside the growth and maturation of the company.  Today we are thrilled to recognize NRS values of integrity, innovation, commitment and community as we announce promotions within our senior leadership. These four individuals will continue to make our company stronger and lead our transition to an independent power producer.”

• As a founding member of NRS, Lindsey has served as Chief Operations Officer since 2011. As the company has expanded its capabilities, she will now take on a new role as the Chief Commercial Officer, overseeing offtake origination strategy, commercial markets and regulatory affairs, policy, ESG and communications functions.
• Mike has served as SVP – Operations since February 2024, supporting the completion of late-stage development projects, and preparing for operations post-commercial operation. In his expanded role as Chief Operations Officer, he will draw upon his 16 years of renewable energy industry experience to lead NRS in strategically improving its operations capabilities.
• Vineet joined NRS in 2023 as SVP – Engineering to build out a team and processes that enhance NRS’ technical approach to development, construction and operations. As Chief Technology Officer, he and his team will continue to collaborate across the organization, and drive technical rigor, efficiency and innovation across all aspects of NRS’ business.
• Ben has served as General Counsel since joining NRS in February 2022. He has brought practical and solution driven leadership to important transactions at NRS. He will now be Chief Legal Officer, focusing on risk management and direction of legal strategy as NRS continues to grow its portfolio of renewable energy projects.

About National Renewable Solutions

Founded in 2011, NRS originates, acquires and develops renewable energy projects throughout the US at various stages, including from greenfield through operations. NRS is owned by an investment fund managed by an investment management subsidiary of BlackRock, Inc and with its capital markets support and global reach, NRS has positioned itself as a major player in the U.S. renewable energy market.

Media Contact 

Ally Copple
Ally@InnovantPR.com

We hosted an opening reception for ACP’s CLEANPOWER 2024 Conference to welcome everyone to our hometown of Minneapolis. 

Minnetonka, MN— May 30, 2024 — This year, ACP’s CLEANPOWER Conference took place in our hometown of Minneapolis! We hosted an opening reception to kick-off the conference and welcome everyone to our neighborhood. With spectacular rooftop views and even better company, we started the week off on a high note. Thank you to everyone who attended for joining us as we continue building the renewable energy future. 

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We are taking a moment to look back at 2023 and all that we have done as a team, as well as individuals. We couldn’t help but share some of our most proud (and fun) moments.

Minnetonka, MN— March 5, 2024 — In 2023, we doubled the size of our team and added William Whitlock as our CEO, as we continue to expand our project pipeline and execute on our wind, solar and battery projects. Our culture, where everyone is treated like an extension of family, is the key to our past and future successes and it makes our jobs so much more rewarding. Together, we practice the core NRS values of integrity, innovation, commitment, and community while we grow the renewables foothold in the US energy market.

Here are some of our highlights, in no particular order:

• Participants in Halloween Costume Contest (both in office and remote): 14
• “Thank You” notes received from 4H Sponsorships at local CO and NM County Fairs:12+
• Active Resource Stations: 32 with a total of 17,203 data files sent!
• All Hands Meetings Held: 3
• PPA Announcements:1
• States represented by Employees: 15
• New hires: 20
• Industry Conferences attended: 10+
• Internal Promotions: 4
• EPC Agreements Signed: 1
• Equipment Supply Agreements Signed: 4
• Successful Table Tennis Tournament: 1
• Boxes of coffee ordered: 38
• Field Goals Made by NRS Staff at Allegiant Stadium (at RE+ event): 6
• Water Jugs consumed at NRS HQ: 67
• Gingerbread Houses Decorated:6

Now, we’re looking forward to taking what we’ve learned and accomplishing big things together as an NRS family in 2024!

Bill Whitlock announced to succeed Patrick Pelstring as NRS’s new CEO.

Minnetonka, MN— October 10, 2023 — Today, National Renewable Solutions (NRS) announced Bill Whitlock as its new Chief Executive Officer, as its outgoing CEO begins a transition to retirement. NRS is a US-based renewable developer with a rich history and success deploying a community-based stakeholder engagement model for its robust utility scale pipeline. Whitlock has had an accomplished career in renewables already. He began his career at Zilkha Renewable Energy (acquired by Goldman Sachs in 2005),  and later served in Senior executive positions at EDPR, Calpine and most recently at Third Pillar Solar, a portfolio company for 547 Energy. The NRS Board made the unanimous decision to appoint Whitlock as CEO this month.   

“I look forward to joining NRS during this period of rapid growth and building upon the success that Pat and the rest of the NRS team have already created. Together we are committed to delivering on our promises to our shareholders and the communities in which we operate,” Whitlock said.

The company’s original founder and President & CEO, Patrick Pelstring, has been planning to transition into retirement and believes now is the right time to make that move.  Pelstring will continue working with NRS as a private consultant surrounding the efforts on new project origination and community outreach.

Pelstring said, “Good people have always been the strength of NRS and I’m confident that the company will continue its dramatic growth and success under Bill’s direction. I’m also pleased to continue to add value to NRS’s pipeline by going back to my roots in greenfield development.”

Founded in 2011, NRS originates, acquires, and develops renewable energy projects throughout the US at various stages, including from greenfield through operations. NRS is owned by an investment fund managed by an investment management subsidiary of BlackRock, Inc and with its capital markets support and global reach, NRS has positioned itself as a major player in the U.S. renewable energy market.

Guzman Energy will offtake 100% of renewable power generated by Shallow Basket, a new 190 MW solar + storage development in northern NM

DENVER & MINNETONKA, MN – September 13, 2023 – Guzman Energy and renewable developer National Renewable Solutions (NRS), today announced the execution of a power purchase agreement (PPA) for the 140 MW Shallow Basket PV solar project to be paired with 50 MW of battery storage. The Rio Arriba County NM solar power generation and battery storage site is in the final stages of development and is expected to be operational in 2025.

NRS will build and operate the solar project, leasing the land from the Jicarilla Apache Nation. When completed, the project will be capable of supplying enough electricity to power approximately 38,000 homes in the region.

Guzman Energy will own 100% of the power and associated renewable attributes, including renewable energy credits (RECs), generated by Shallow Basket. In addition, Guzman Energy will operate and manage the battery storage system, including scheduling charging and discharging of stored energy.

“The power purchase agreement for Shallow Basket Solar is an important addition to the ever-expanding Guzman power supply portfolio,” said Christopher A. Miller, Co-Founder and CEO of Guzman Energy. “Guzman wholesale customers in New Mexico and Colorado will benefit from this new source of affordable and renewable power.”

The power generated by Shallow Basket solar and stored in battery will be part of Guzman Energy’s power supply portfolio serving current and future Guzman Energy wholesale customer power loads.

Patrick Pelstring, President and CEO of NRS said, “This project represents a cornerstone for NRS. We’re extremely pleased to be partnering with Guzman and look forward to working with them on this and other opportunities to come.”

NRS has an active development portfolio consisting of over 4 GW of renewable projects. The Shallow Basket project is the fourth renewable project the company has developed in New Mexico.

Well, that’s a wrap! Fair season is over.

The NRS Development Team is still buzzing about all of the county fairs they were able to attend this July and August. Not only were we able to attend the fairs and talk to folks who visited our booths, but we were able to support the local 4-H chapters in all of the county fairs we attended, including our own landowners.

The amount of time, effort, and hard work these kids put into raising and caring for their animals was a real treat to witness.

Here are some of the successes we saw this past month:

In support of our Overland Pass Energy and Honors Energy projects, we visited the Logan County (CO) and Sedgewick County (CO) fairs. Bren Moore (Director of Wind Development) is pictured above with Kaitlyn and the rabbit she raised and showed. NRS was able to purchase the rabbit in support of Kaitlyn and the local 4-H chapter.

We received this handwritten Thank You note (right) from Ryder for buying his chicken at the auction in Sedgewick County Fair. The funds are going to help buy a car. Good luck, Ryder!

The last week of July in Minnesota resulted in an unusual 100-degree stint, but the NRS team wasn’t going to let that keep them from competing in the 2nd Annual NRS Table Tennis Tournament at the All Hands Meeting. 

Playing off last year’s rules, it was a single-elimination tournament, resulting in 25+ games over two days, fit between productive group meetings and team meals. This year, NRS decided to increase incentive for the team and added an epic 3-tier trophy for the winner to take home (right). To say the competition was heated, is an understatement, including an intense battle between Lindsey (COO, pictured above, left) and Jesse (CDO, pictured above middle).

Before crowning the champion Thursday afternoon, a Ben & Jerry’s sundae party re-energized the crew. Ice cream may (or may not) have contributed to the wins or losses that were played afterward, but it all came down to the Balmy Battle of the Brians. 

Brian Hemminger (Finance Manager) and Brian Reindl (Director of Solar Development) had defeated every opponent in their brackets to face off in the championship game. In the end, Brian Reindl became the first recipient of the NRS Table Tennis Trophy! He will hold onto the trophy for the next year until next summer’s All Hands meeting when we will crown the next champion of the 3rd Annual NRS Table Tennis Tournament.

We had some amazing department and breakout meetings, checked some of the smaller items off the bottom of our lists, and created more efficiency with our processes. The NRS team celebrated their constructive days with two nights of team-building events where they could choose from Top Golf, dinner and a show at the Guthrie Theater in Minneapolis, and a MN Loons Soccer Game at Allianz Field in St. Paul. 

It was an amazing week of fun and productivity – especially welcoming all the new faces of the NRS Team to the Annual Table Tennis Tournament! A big shot out to our local title company for joining us for the Wednesday morning session, sharing their title wisdom, and bringing us yummy Kolacky treats!

We continue to be amazed with the work our team has produced. We are very grateful for their hard work, determination, and ability to let loose, too!