National Grid Renewables signs power purchase agreement with Microsoft

National Grid Renewables (NGG) announced the execution of a power purchase agreement, or PPA, with Microsoft (MSFT) for its Portage Solar Project, a 250-megawatt (MW) development located in Portage County, Wisconsin. “Portage Solar is estimated to begin construction in 2025 and reach operation in 2027. The project is anticipated to benefit local and statewide communities through the production of millions of dollars in new tax revenue and landowner income, the creation of new jobs, and local spending. The project community will also benefit from a dedicated charitable fund, which goes above and beyond any tax revenue delivered by the project. These charitable funds are unique to National Grid Renewables and exemplify how they commit to being good neighbors within the communities in which their projects are built. In total, the direct economic impact of Portage Solar is estimated to reach approximately $88 million over the first 25 years of operations. Additionally, as part of the agreement with Microsoft, National Grid Renewables will donate an additional $20 million over the term of the agreement to a community fund. Sustain Our Future Foundation will receive and distribute these funds to support under-resourced communities and communities disproportionately impacted by pollution,” the company stated.