GVEC announced today it has entered into a contract with Shell Energy North America (US), L.P. (“Shell Energy”) to provide the Cooperative renewable energy. With deliveries scheduled to commence on July 1, 2024, this will be the first utility-scale renewable energy contract in the Cooperative’s history.
“We’re pleased to enter into this contract with Shell Energy North America,” said GVEC General Manager and CEO Darren Schauer. “As the cost of renewable energy production continues to fall in line with traditional resources, this agreement provides an opportunity to diversify GVEC’s power supply portfolio and do what we can to reduce our own carbon footprint in a way that has no negative economic impact on our customers.”
The transaction consists of renewable energy sourced primarily from the Fighting Jays Solar Farm in Fort Bend County, TX. At 30 megawatts (MW) per hour, this transaction equates to approximately 262,800 MW hours per year. Based on the average residential customer’s consumption of 1,500kWh per month, this is estimated to provide enough electricity to power almost 15,000 homes annually.
“We recognize that our customers are looking for ways to address the challenges of the energy transition,” said Shaji Nair, SVP Sales & Origination, Shell Energy. “Shell Energy is pleased to be providing the renewable energy that the Guadalupe Valley Electric Cooperative is looking for to help further their sustainability objectives in a fiscally responsible manner.”
GVEC Board President Lewis Borgfeld stated, “This milestone agreement for GVEC and its members is a result of continuous planning for the future and proactively taking advantage of opportunities to keep costs fair and reasonable. This decision moves the Cooperative further towards a power supply balance that is both environmentally and financially responsible, which is good not only for those we serve today, but for future cooperative generations as well.”
GVEC is a progressive cooperative specializing in the delivery of products and services that empower the people and communities in the Guadalupe Valley. Offering dependable electricity, high-speed internet, reliable AC/heating sales and service, as well as solar and battery storage options, GVEC serves over 100,000 consumers through five customer service locations in Cuero, Gonzales, La Vernia, Schertz and Seguin.