{"id":473531,"date":"2021-04-08T08:33:24","date_gmt":"2021-04-08T12:33:24","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=473531"},"modified":"2021-04-08T08:33:24","modified_gmt":"2021-04-08T12:33:24","slug":"wells-fargo-announces-major-solar-expansion-in-north-carolina","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/wells-fargo-announces-major-solar-expansion-in-north-carolina\/","title":{"rendered":"Wells Fargo Announces Major Solar Expansion in North Carolina"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>Wells Fargo Announces Major Solar Expansion in North Carolina<\/b><\/p>\n<p><b>Duke Energy, NextEra Energy Resources lead development of 600-acre solar farm to supply approximately 50% of bank\u2019s electricity needs for North Carolina<\/b><\/p>\n<p>CHARLOTTE, N.C.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nWells Fargo, NextEra Energy Resources, and Duke Energy today announced a 20-year renewable energy purchase agreement, under which Wells Fargo will consume 100% of solar energy produced by the <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.nexteraenergyresources.com%2Fblackburn-solar.html&amp;esheet=52408440&amp;newsitemid=20210408005207&amp;lan=en-US&amp;anchor=Blackburn+Solar+Project&amp;index=1&amp;md5=18731ebe0cfd275fbaa25e21bb76ed10\">Blackburn Solar Project<\/a>, a 58-megawatt 600-acre solar farm planned for Catawba County, North Carolina, under Duke Energy\u2019s <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fnews.duke-energy.com%2Freleases%2Fmore-renewable-energy-options-available-under-duke-energys-green-source-advantage&amp;esheet=52408440&amp;newsitemid=20210408005207&amp;lan=en-US&amp;anchor=Green+Source+Advantage+%28GSA%29+program&amp;index=2&amp;md5=08c04218dc9ab455f644e6e691747b26\">Green Source Advantage (GSA) program<\/a>. The transaction announced today is Wells Fargo\u2019s single largest to date and will supply approximately 8% of the company\u2019s annual global electricity.\n<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20210408005207\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210408005207\/en\/<\/a><\/p>\n<div id=\"bwbodyimg\" style=\"width: 480px;float:left;padding-left:0px;padding-right:20px;padding-top:0px;padding-bottom:0px\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210408005207\/en\/870204\/4\/duke_NC.jpg\" alt=\"Wells Fargo\/Duke Energy\/NextEra Energy Resources project in Catawba County will deliver environmental, social and economic benefits (Graphic: Wells Fargo)\" \/><\/p>\n<p style=\"font-size:85%\">Wells Fargo\/Duke Energy\/NextEra Energy Resources project in Catawba County will deliver environmental, social and economic benefits (Graphic: Wells Fargo)<\/p>\n<\/div>\n<p>\nEnergy provided under the agreement will allow Wells Fargo to meet more than 50% of total electricity needs and 100% of its eligible load within the Duke Energy Carolinas service area, where it maintains a real-estate footprint of 7.5 million square feet and employs about 36,000. The 130,000 megawatt-hours Wells Fargo will receive each year will be generated by about 200,000 solar panels. The facility will be developed, owned, and operated by a subsidiary of Florida-based NextEra Energy Resources, and is scheduled to come online in 2022. Wells Fargo will also retain the Renewable Energy Credits (RECs) associated with the project.\n<\/p>\n<p>\n\u201cThe development of renewable energy projects close to employee and customer centers is one way Wells Fargo is working to meet our net-zero greenhouse gas emissions goal in a way that also contributes to the communities where we live and work. Investing in solar energy development in North Carolina will support job creation, tax revenue, reduced carbon emissions, and grid resiliency,\u201d said Nate Hurst, head of Social Impact and Sustainability at Wells Fargo. \u201cWe appreciate the collaboration with Duke and NextEra to advance our enterprise sustainability goals in a way that benefits the local economy.\u201d\n<\/p>\n<p>\n\u201cAs large energy users look to expand their sustainability goals, many are finding Duke Energy\u2019s Green Source Advantage program the perfect fit to make that happen,\u201d said Stephen De May, Duke Energy\u2019s North Carolina president. \u201cThe program\u2019s flexibility allows the customer to modify it to best suit their needs. The state benefits by more renewable energy.\u201d\n<\/p>\n<p>\nDeveloper NextEra Energy Resources is working with community leaders and organizations to ensure the project meets local solar development requirements, as well as Wells Fargo\u2019s needs. As part of the development, NextEra Energy Resources is negotiating a land grant with the <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fcatawbalands.org%2F&amp;esheet=52408440&amp;newsitemid=20210408005207&amp;lan=en-US&amp;anchor=Catawba+Lands+Conservancy&amp;index=3&amp;md5=21b367ef0aeae0d5e5837b11b53348cd\">Catawba Lands Conservancy<\/a> to conserve lands along the Catawba River and expand a portion of the <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.carolinathreadtrail.org%2F&amp;esheet=52408440&amp;newsitemid=20210408005207&amp;lan=en-US&amp;anchor=Carolina+Thread+Trail&amp;index=4&amp;md5=376d1c8f9a0d9b5b8cd4a6d5b0d329e0\">Carolina Thread Trail<\/a>. According to the <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.nexteraenergyresources.com%2Fblackburn-solar.html&amp;esheet=52408440&amp;newsitemid=20210408005207&amp;lan=en-US&amp;anchor=project+website&amp;index=5&amp;md5=504d77cb2d5e8ea0a1c768702e4d23f2\">project website<\/a>, community economic benefits include approximately $2.3 million in additional tax revenue for the local community as well as local employment opportunities, including up to 100 jobs to construct the project.\n<\/p>\n<p>\n\u201cWe\u2019re excited to work with Duke and Wells Fargo to provide more affordable, renewable energy through the Green Source Advantage program,\u201d said Matt Handel, senior vice president of development for NextEra Energy Resources. \u201dThe Blackburn Solar project will also provide significant benefits to the economy, creating good-paying construction jobs and generating millions of dollars in additional tax revenue for the local community.\u201d\n<\/p>\n<p>\nWells Fargo has met <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fstories.wf.com%2Fwells-fargo-global-operations-now-powered-100-percent-renewable-energy&amp;esheet=52408440&amp;newsitemid=20210408005207&amp;lan=en-US&amp;anchor=100%25+of+its+annual+global+electricity+requirements+with+renewable+energy&amp;index=6&amp;md5=a8415f86d76b29bbe24b1ce904b6d4ee\">100% of its annual global electricity requirements with renewable energy <\/a>since 2017, primarily through the purchase of RECs, which satisfied the first part of a two-pronged 2020 renewable energy goal set in 2016. The company is now working to fulfill the second part of that commitment \u2014 to transition to a higher mix of long-term renewable energy contracts for projects near its greatest load centers and significantly expand onsite solar generation in order to support the development of net-new sources of renewable energy and deliver community benefits associated with renewable energy development. In March, Wells Fargo announced its <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fnewsroom.wf.com%2FEnglish%2Fnews-releases%2Fnews-release-details%2F2021%2FWells-Fargo-Sets-Goal-to-Achieve-Net-Zero-Greenhouse-Gas-Emissions-by-2050%2Fdefault.aspx&amp;esheet=52408440&amp;newsitemid=20210408005207&amp;lan=en-US&amp;anchor=goal+to+achieve+net-zero+greenhouse+gas+emissions&amp;index=7&amp;md5=5c2755e9ea6f995e8c27d723fae286ba\">goal to achieve net-zero greenhouse gas emissions<\/a> by 2050, including its financed emissions.\n<\/p>\n<p>\n\u201cLeveraging our annual energy spend to advance green infrastructure development in the U.S. and create new revenue streams for communities is one way we are helping contribute to more sustainable, equitable, and resilient communities,\u201d said Richard Henderson, head of Wells Fargo\u2019s Corporate Properties Group. \u201cWe will continue to look for opportunities to advance environmental and social sustainability through our operations as Wells Fargo drives toward its ambitious climate goals.\u201d\n<\/p>\n<p>\nEarlier this year, Wells Fargo announced <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.ameresco.com%2Fwells-fargo-and-ameresco-to-install-solar-generation-assets-at-nearly-100-wells-fargo-properties-in-seven-states%2F&amp;esheet=52408440&amp;newsitemid=20210408005207&amp;lan=en-US&amp;anchor=a+deal+with+Ameresco%2C+Inc.&amp;index=8&amp;md5=02dc97990225c749bcf44329834d726a\">a deal with Ameresco, Inc.<\/a> to install approximately 30 megawatts of new, on-site solar generation assets at about 100 corporate and retail locations in seven states. As part of that agreement, Ameresco will install 2.6 megawatts of solar generation at two administrative buildings in North Carolina. To date, Wells Fargo\u2019s Corporate Properties Group has entered into nearly 120 long-term contracts that support the development of over 750 megawatts of net-new renewable energy assets.\n<\/p>\n<p>\nAside from being one of the largest corporate users of renewable energy, Wells Fargo is a leader in financing <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fsolarindustrymag.com%2Fwells-fargos-hopkins-as-renewable-tax-credits-phase-out-industry-must-develop-new-financing-structures&amp;esheet=52408440&amp;newsitemid=20210408005207&amp;lan=en-US&amp;anchor=large-scale+wind%2C+solar%2C+and+other+renewable+energy+projects&amp;index=9&amp;md5=bae20caeddee1a8c7399ab6470f9dc13\">large-scale wind, solar, and other renewable energy projects<\/a> on behalf of its customers. The company recently reached the milestone of providing <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fnewsroom.wf.com%2FEnglish%2Fnews-releases%2Fnews-release-details%2F2021%2FWells-Fargo-Surpasses-10-Billion-in-Renewable-Energy-Tax-Equity-Investments%2Fdefault.aspx&amp;esheet=52408440&amp;newsitemid=20210408005207&amp;lan=en-US&amp;anchor=%2410+billion+in+tax+equity+financing+for+utility-scale+renewable+energy+projects&amp;index=10&amp;md5=ce80c60738f40efacf1b6e3778f7046f\">$10 billion in tax equity financing for utility-scale renewable energy projects<\/a>. Since 2005, Wells Fargo has helped finance 12% of all wind and solar energy capacity in the U.S.\n<\/p>\n<p><b>About Wells Fargo<\/b><\/p>\n<p>\nWells Fargo &amp; Company is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. Wells Fargo ranked No. 30 on Fortune\u2019s 2020 rankings of America\u2019s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.\n<\/p>\n<p>\nAdditional information may be found at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.wellsfargo.com&amp;esheet=52408440&amp;newsitemid=20210408005207&amp;lan=en-US&amp;anchor=www.wellsfargo.com&amp;index=11&amp;md5=d8b3e41dc10557eccc11fd4818fbe7d5\">www.wellsfargo.com<\/a> | Twitter: @WellsFargo.\n<\/p>\n<p><b>News Release Category: <\/b>WF-PESG\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210408005207r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210408005207\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210408005207\/en\/<\/a><\/span><\/p>\n<p><b>Wells Fargo Media<br \/>\n<\/b><br \/>E.J. Bernacki<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:ejbernacki@wellsfargo.com\">ejbernacki@wellsfargo.com<br \/>\n<\/a><br \/>+1 415-823-3523\n<\/p>\n<p><b>KEYWORDS:<\/b> United States North America North Carolina<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Other Energy Utilities Alternative Energy Energy Banking<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210408005207\/en\/870203\/3\/WF_logo_box_rgb_red_F12_%28003%29.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Photo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210408005207\/en\/870204\/3\/duke_NC.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">Wells Fargo\/Duke Energy\/NextEra Energy Resources project in Catawba County will deliver environmental, social and economic benefits (Graphic: Wells Fargo)<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Wells Fargo Announces Major Solar Expansion in North Carolina Duke Energy, NextEra Energy Resources lead development of 600-acre solar farm to supply approximately 50% of bank\u2019s electricity needs for North Carolina CHARLOTTE, N.C.&#8211;(BUSINESS WIRE)&#8211; Wells Fargo, NextEra Energy Resources, and Duke Energy today announced a 20-year renewable energy purchase agreement, under which Wells Fargo will consume 100% of solar energy produced by the Blackburn Solar Project, a 58-megawatt 600-acre solar farm planned for Catawba County, North Carolina, under Duke Energy\u2019s Green Source Advantage (GSA) program. The transaction announced today is Wells Fargo\u2019s single largest to date and will supply approximately 8% of the company\u2019s annual global electricity. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210408005207\/en\/ Wells Fargo\/Duke &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/wells-fargo-announces-major-solar-expansion-in-north-carolina\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Wells Fargo Announces Major Solar Expansion in North Carolina&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-473531","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Wells Fargo Announces Major Solar Expansion in North Carolina - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/wells-fargo-announces-major-solar-expansion-in-north-carolina\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wells Fargo Announces Major Solar Expansion in North Carolina - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Wells Fargo Announces Major Solar Expansion in North Carolina Duke Energy, NextEra Energy Resources lead development of 600-acre solar farm to supply approximately 50% of bank\u2019s electricity needs for North Carolina CHARLOTTE, N.C.&#8211;(BUSINESS WIRE)&#8211; Wells Fargo, NextEra Energy Resources, and Duke Energy today announced a 20-year renewable energy purchase agreement, under which Wells Fargo will consume 100% of solar energy produced by the Blackburn Solar Project, a 58-megawatt 600-acre solar farm planned for Catawba County, North Carolina, under Duke Energy\u2019s Green Source Advantage (GSA) program. The transaction announced today is Wells Fargo\u2019s single largest to date and will supply approximately 8% of the company\u2019s annual global electricity. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210408005207\/en\/ Wells Fargo\/Duke &hellip; Continue reading &quot;Wells Fargo Announces Major Solar Expansion in North Carolina&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/wells-fargo-announces-major-solar-expansion-in-north-carolina\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-08T12:33:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mms.businesswire.com\/media\/20210408005207\/en\/870204\/4\/duke_NC.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/wells-fargo-announces-major-solar-expansion-in-north-carolina\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/wells-fargo-announces-major-solar-expansion-in-north-carolina\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Wells Fargo Announces Major Solar Expansion in North Carolina\",\"datePublished\":\"2021-04-08T12:33:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/wells-fargo-announces-major-solar-expansion-in-north-carolina\\\/\"},\"wordCount\":1107,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/wells-fargo-announces-major-solar-expansion-in-north-carolina\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mms.businesswire.com\\\/media\\\/20210408005207\\\/en\\\/870204\\\/4\\\/duke_NC.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/wells-fargo-announces-major-solar-expansion-in-north-carolina\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/wells-fargo-announces-major-solar-expansion-in-north-carolina\\\/\",\"name\":\"Wells Fargo Announces Major Solar Expansion in North Carolina - 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