GHG Emissions, Industrial, Sourcing Renewables - January 5, 2021
Monolith signs letter-of-intent to procure renewable energy for production facility
Monolith Materials, a chemical and hydrogen company, announced Jan. 4 that it signed a letter-of-intent to procure enough renewable energy resources from Nebraska Public Power District (NPPD) to generate two million MWh annually, keeping its Olive Creek production facility emissions-free.
"Renewable electricity is the primary input to our proprietary process," Rob Hanson, co-founder and chief executive officer of Monolith said in a statement. "While affordability and reliability are key business considerations, the sustainability of our power supply is also a critical factor for Monolith. We use this renewable electricity to sustainably make essential products for the automotive, industrial, and agriculture sectors."
Olive Creek 1 in Hallam, Nebraska, is Monolith Materials' first commercial-scale emissions-free production facility, already operating on 100% renewable power. When the Olive Creek 2 expansion is complete, Monolith will be Nebraska's largest consumer of electricity and the company wants it all to be renewable. With this agreement, Monolith plans a mix of solar and wind generation resources, along with energy storage, to provide sufficient renewable power to offset the renewable power needs of its Olive Creek 1 facility along with its Olive Creek 2 expansion.
NPPD President and CEO Tom Kent said NPPD will solicit bids for the project through a request for proposals for new wind or solar generation, including energy storage, through a PPA. NPPD is expecting to enter into power purchase agreements by Sept. 1, 2021, with commercial operations expected to begin no later than Dec. 31, 2025. NPPD plans to issue the RFP in March 2021. A shortlist will be developed for further negotiations.