National Grid Renewables Begins Construction on Dodson Creek Solar Project

Rhea-AI Summary

National Grid Renewables has begun construction on the Dodson Creek Solar Project in Highland County, Ohio. This 117 MW project, located in the PJM market, is expected to generate $49 million in direct economic benefits for the local community. It's the company's fourth project in Ohio and second in Highland County, contributing to a total 558.5 MW portfolio in the state.

The project will create approximately 200 construction jobs and is contracted with Kiewit as the EPC partner. It will use First Solar's Series 7 modules, manufactured in Ohio. Once operational in mid-2025, Dodson Creek is anticipated to produce $21 million in new tax revenue for local entities and avoid an estimated 198,400 metric tons of CO2 emissions annually. National Grid Renewables has also pledged $585,000 to Highland County charities through a dedicated fund.

Positive

• 117 MW solar project expected to generate $49 million in direct economic benefits
• Creation of approximately 200 construction jobs
• Anticipated $21 million in new tax revenue for local entities
• Estimated annual avoidance of 198,400 metric tons of CO2 emissions
• $585,000 pledged to Highland County charities

Negative

• None.

Insights

Renewable Energy Analyst

The start of construction on National Grid Renewables' Dodson Creek Solar Project marks a significant expansion of solar capacity in Ohio. At 117 MW, it's a substantial addition to the state's renewable energy portfolio. The project's location within the PJM market is strategically important, as it's one of the largest electricity markets in the US.

The estimated $49 million in direct economic benefits and $21 million in new tax revenue highlight the substantial local economic impact. This aligns with the growing trend of renewable projects becoming major contributors to rural economies. The use of First Solar's Series 7 modules, manufactured in-state, further amplifies the local economic benefits and showcases the strengthening domestic solar supply chain.

The project's carbon avoidance potential of 198,400 metric tons of CO2 annually is significant, demonstrating the tangible environmental benefits of large-scale solar projects. This development reinforces Ohio's growing role in the US energy transition.

Financial Analyst

The Dodson Creek project represents a substantial investment in Ohio's renewable energy sector. The $49 million in direct economic benefits, combined with $21 million in new tax revenue, indicates a significant financial injection into Highland County and surrounding areas. This could potentially boost local government budgets and stimulate economic activity.

National Grid Renewables' commitment of $585,000 to local charities, following a previous $1 million pledge in other counties, demonstrates a strategic approach to community relations. This could help mitigate potential local opposition and smooth the way for future projects.

The partnership with First Solar (NASDAQ: FSLR) for module supply is noteworthy. It supports domestic manufacturing and could provide a hedge against supply chain disruptions or potential trade disputes affecting international suppliers. This vertical integration within the US solar industry could lead to more stable and predictable project costs in the long term.

Energy Market Analyst

The Dodson Creek project, situated in the PJM market, is strategically positioned in one of the most competitive and liquid electricity markets in the US. This location could potentially allow for favorable power purchase agreements and provide stability to project revenues.

With this project, National Grid Renewables is expanding its Ohio portfolio to 558.5 MW across four projects. This concentration in a single state could lead to economies of scale in operations and maintenance, potentially improving profitability. However, it also increases exposure to Ohio-specific regulatory and market risks.

The use of First Solar's next-generation Series 7 modules suggests a focus on efficiency and performance. These advanced modules could potentially increase the project's energy yield and overall profitability. The local manufacturing aspect also aligns with growing policy emphasis on domestic clean energy supply chains, which could provide advantages in future project development and financing.

The projected mid-2025 operational date positions this project to capitalize on the expected growth in clean energy demand driven by corporate sustainability goals and state-level renewable portfolio standards.

117 MW Project located in Highland County, Ohio is fourth project in OH solar portfolio

MINNEAPOLIS, Sept. 5, 2024 /PRNewswire/ -- Today, National Grid Renewables announced the start of onsite construction at its Dodson Creek Solar Project (Dodson Creek) in Highland County, Ohio. Once operational, the Dodson Creek project, located within the PJM market, will deliver 117 megawatts (MW) of clean solar power and generate an estimated $49 million in direct economic benefit for the local community.

"Dodson Creek is our fourth project to begin construction in Ohio and the second in Highland County," said Joe Ibrahim, Vice President of Construction and Engineering. "This project is the next chapter in our commitment to helping communities across Ohio realize the economic benefits of the clean energy transition."

Dodson Creek follows National Grid Renewables' operational Yellowbud Solar project - the first and largest project in their Ohio portfolio, as well as its current construction projects, Ross County Solar and Fayette Solar. In total, and in addition to a robust development portfolio, the four projects represent a 558.5 MW portfolio of construction and operating projects throughout the Buckeye state.

Dodson Creek will positively impact the local community in many ways. Throughout the construction phase, the 1,300-acre project will create and sustain approximately 200 construction jobs. Dodson Creek is contracted with Kiewit as the Engineering, Procurement and Construction (EPC) partner.

"Our fourth collaboration with NG Renewables on the Dodson Creek Solar Project exemplifies our enduring partnership and commitment to renewable energy," said Brian Koller, vice president, Kiewit Power Constructors Co. "We value the strong relationships we have built with the local union craft and the Highland County community. Kiewit is proud to contribute to a sustainable future through the Dodson Creek Solar Project."

In continuing its longstanding partnership with First Solar, the Dodson Creek project will utilize next generation Series 7 modules developed and produced by First Solar, Inc (Nasdaq: FSLR) at their Toledo, Ohio manufacturing facility.

"There is real momentum driving the growth of solar in Ohio today, First Solar's home state," stated Darin Green, Senior Director at First Solar. "We are proud to be supporting National Grid Renewables with American-made Series 7 modules, manufactured about 3.5 hours away from the Dodson Creek site, as they continue to prominently contribute to Ohio's sustainable energy future. We are certain Dodson Creek will be a great addition to the state."

Once operational, the project is anticipated to produce approximately $21 million in new tax revenue for Highland County and local townships, school districts and emergency (fire/EMS/mental health) districts. Additionally, National Grid Renewables has pledged to contribute $585,000 to Highland County charities and organizations through a dedicated charitable fund. This follows a previous pledge of over $1 million to the Ohio communities of Ross and Pickaway Counties through its Yellowbud Solar 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.

Estimated to begin operations in mid-2025, the Dodson Creek project is anticipated to avoid an estimated 198,400 metric tons of carbon dioxide (CO₂) emissions every year during operation— the equivalent of taking an estimated 44,000 cars off the road for a year.

About National Grid Renewables
National Grid Renewables develops, owns and operates large-scale renewable energy assets across the United States, including solar, wind, and energy storage. As a farmer-founded and community-focused business, National Grid Renewables repowers America's electricity grid by reigniting local economies and reinvesting in a sustainable, clean energy future. National Grid Renewables supports National Grid's vision of being at the heart of a clean, fair, and affordable energy future for all. To learn more about National Grid Renewables, visit www.nationalgridrenewables.com or follow the company on LinkedIn.

Media Inquiries
Contact: Emily Morissette
Senior Manager, Marketing & Communications
National Grid Renewables
press@nationalgridrenewables.com
612-504.4839

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SOURCE National Grid Renewables

FAQ

What is the capacity of the Dodson Creek Solar Project (FSLR)?

The Dodson Creek Solar Project has a capacity of 117 megawatts (MW).

When is the Dodson Creek Solar Project (FSLR) expected to begin operations?

The Dodson Creek Solar Project is estimated to begin operations in mid-2025.

How many construction jobs will the Dodson Creek Solar Project (FSLR) create?

The Dodson Creek Solar Project is expected to create and sustain approximately 200 construction jobs.

What is the expected tax revenue from the Dodson Creek Solar Project (FSLR)?

The Dodson Creek Solar Project is anticipated to produce approximately $21 million in new tax revenue for Highland County and local entities.

How much CO2 emissions is the Dodson Creek Solar Project (FSLR) expected to avoid annually?

The Dodson Creek Solar Project is estimated to avoid 198,400 metric tons of CO2 emissions annually during operation.