Geronimo Energy Subscribes Prominent Minnesota Organizations to its Community Solar Garden Portfolio, Actively Seeking More Subscribers
Geronimo Energy, LLC (“Geronimo”) is pleased to announce it signed several Minnesota-grown organizations to its Nordic Solar Portfolio (“Portfolio”) this week. The Portfolio includes over 30 community solar gardens spread across 18 Minnesota counties. Publicly announced subscribers include the University of Minnesota (“U of MN”), the Science Museum of Minnesota, and Hennepin County.
The U of MN’s Portfolio subscription will be spread out over several of the U of MN’s premises and will represent an estimated $800,000 in electricity savings over the life of the contract. Geronimo won the contract through a formal competitive Request for Proposal (“RFP”) process.
“The University of Minnesota is excited to participate in the community solar garden program. By enrolling in the program, the University is able to advance its cost saving and environmental goals, while growing Minnesota’s local, clean energy economy,” said Shane Stennes, Director of Sustainability for the University of Minnesota.
Additionally, the Science Museum of Minnesota had been approached by several community solar garden developers, but ultimately selected Geronimo Energy as the preferred vendor.
“The Science Museum of Minnesota is pleased that its purchase of clean, renewable energy from Geronimo Energy’s Portfolio will save us more than $14,000 annually in energy costs while investing in the clean energy economy. In addition, the museum is gratified to know that the ground under the solar panels will be sown with a pollinator-friendly mix of prairie plants,” said Patrick Hamilton, Director of Global Change initiatives at the Science Museum of Minnesota.
Subscriptions are still available throughout many of the Portfolio’s community solar garden locations, and Geronimo is actively seeking subscriptions from corporations, non-profits, government entities, and educational institutions. The eligible subscriber locations for the Portfolio encompass nearly 40 Minnesota counties, including the Twin Cities metro area, as well as southwest, southeast and mid-state regions.
Economic Benefits for Minnesota Communities
As a home-grown Minnesota company, Geronimo is proud to serve Minnesota electric customers with its previously developed wind and solar projects located throughout the state, including through the Xcel Energy Solar*Rewards Connect Program, of which the Geronimo Energy Community Solar Garden Portfolio is a part. Geronimo’s agricultural foundation drives it to partner with communities, such as those in rural Minnesota, to enable communities to take advantage of all the benefits that renewable energy can bring. In Minnesota alone, Geronimo Energy has developed 439 MW of operating wind and solar projects, as well as over 160 MW of wind and solar projects that are currently under construction. Combined, these projects represent nearly 600 MW of clean Minnesota energy and are estimated to contribute:
Over $40 million during the first 20 years of operation in tax revenue
Over $60 million during the first 20 years of operation in landowner payments
Over $1.9 million during the first 20 years of operation in charitable giving through the implementation of local Community Fund Boards
Create over 1,800 construction jobs and over 85 full-time permanent jobs
Geronimo’s Minnesota foundation has been made even stronger through the subscription agreements with these prominent Minnesota organizations in its Community Solar Garden Portfolio. The Portfolio will contribute millions more in tax revenue, landowner payments and job creation to the local Minnesota economy, as well as will reduce hundreds of thousands of metric tons of carbon dioxide emissions.
“Geronimo Energy is proud to invest in our home state of Minnesota,” said Blake Nixon, Geronimo Energy President. “Community solar gardens are a win-win for Minnesotans. The subscriptions help to reduce electricity bills for subscribers, and the projects provide economic development to communities and clean power to the grid for constituents.”