NIMECA Solar

Project Overview



National Renewable Solutions has submitted a proposal to NIMECA (Humboldt, IA) in response to a closed discussion regarding the cooperative’s desire to pursue new renewable energy procurement for its members. The proposal described a portfolio of multiple distribution-scale solar projects located throughout NIMECA service territory that aims for 20 MW ac in total.

NIMECA is a generation/transmission cooperative with 13 municipal utility members located in northern Iowa. In closed discussions with NRS, NIMECA has indicated a desire to purchase new, additional generation via long-term PPA with a solar project developer.

NIMECA and NRS have signed a letter of intent to enter into a 25-year PPA (either fixed-rate or escalator) for energy and environmental attributes from the portfolio of solar projects. Following the review of the proposal, NIMECA indicated an interest in working with NRS, subject to the approval of a PPA price by the Board of NIMECA.

The project will consist of several sites ranging from 2MW to 7MW PV generation. Some of these sites will be on land owned by NIMECA’s member municipal utilities and some on private land. Each project will interconnect to a nearby feeder or a substation.

NRS proposes to manage site control, permitting, design, construction, and operation for each of the projects. Energy generated at these sites (along with any other project-generated attributes) will be metered at each point of interconnection and sold to NIMECA under the terms of a long-term PPA.

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    In mid 2021, NRS was acquired by BlackRock Real Assets – Climate Infrastructure Group* (“BlackRock”) with the intention of accelerating the development of its pipeline of projects toward financing, construction, and operations. With NRS’ on-the-ground development and origination expertise and BlackRock’s capital markets support and global reach, we have positioned ourselves as a major player in the U.S. renewable energy market.

    * BLACKROCK REAL ASSETS OPERATES ONE OF THE LARGEST CLIMATE INFRASTRUCTURE EQUITY INVESTMENT PLATFORMS IN THE WORLD WITH OVER $9.7 BILLION IN TOTAL COMMITMENTS AND INVESTMENTS IN 450 RENEWABLE POWER AND OTHER CLIMATE RELATED PROJECTS ACROSS 17 COUNTRIES AND 5 CONTINENTS.


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