HOUSTON and DALLAS, June 9, 2016 /PRNewswire/ -- MP2 Energy, a full-service power company based in The Woodlands, Texas, has been awarded a five-year retail electricity contract with Toyota Motor North America to provide 100 percent renewable energy solutions to Toyota's new North American headquarters in Plano, Texas.
The contract takes into consideration the forecasted hourly energy consumption for the approximately 2.1 million square-foot campus comprised of office space and office support, a data center and light industrial and light automotive service facilities. The five-year deal also supports 7.75 megawatts of on-site solar generation at the new headquarters through MP2 Energy's Net Energy Billing program for the purchase of all excess solar generation. The remaining electricity MP2 procures for Toyota will be 100 percent renewable, sourced from various resources including local Texas wind and offsite solar.
"This deal showcases our innovative solar power solutions, namely our highly customizable approach to solar solutions to reduce retail supply rate," said Jeff Starcher, chairman and CEO of MP2 Energy. "Toyota is one of the world's premier automotive companies, and we were proud to negotiate a creative supply model for their new Texas headquarters."
MP2 will also provide Toyota with supply flexibility and innovation for risk management, including the possibility of future integration of demand response and other onsite generation.
Traditionally, solar energy has been offered exclusively through long-term contracts, most of which begin at 20-year terms. This deal, however, is a shorter five-year agreement, improving Toyota's ability to forecast its energy costs and adjust accordingly. By taking this purchase position on solar energy, Toyota is able to consume reliable energy and meet its electric needs without being exposed to the price movement associated with natural gas and the real time spot market for power.
"We are dedicated to making sure our new headquarters campus supports – even redefines – Toyota's commitment to the environment," said Kevin Butt, Regional Director, North American Environmental Division of Toyota Motor North America. "The Plano solar system will not only reduce our environmental footprint and educate team members about renewable energy, it moves us closer to Toyota's 2050 global environmental challenge to eliminate carbon emissions in all operations."
As part of its overall sustainability effort, Toyota engaged Priority Power Management to negotiate a comprehensive retail electricity supply contract with MP2 Energy, including the integration of a 7.75 MW solar-generated power system located behind the utility meter.
"We chose MP2 Energy because of its competitive pricing and ability to integrate solar power into its electricity supply," said John Bick, managing principal at Priority Power Management.
Construction of Toyota's new North American headquarters is estimated to open in May 2017. It will house 4,000 employees that will manage 14 regional offices across the United States. The approximately 2.1 million square feet of conditioned space will include 1.9 million square feet of office and office support, 20,000 square feet of data center and IT support and approximately 350,000 square feet of light industrial, quality control and testing, and light automotive service. Oncor will serve as the chosen Transmission Distribution Service Provider (TDSP).
About MP2 Energy
MP2 Energy is a full service power company, serving approximately 1,300 MW to commercial, industrial and residential customers in Texas, Illinois, Pennsylvania and Ohio. The top-tier company integrates capabilities across its core services from plant development, plant management, demand response, and retail electric supply to the end-use customer. The company handles all other aspects of power markets, such as asset management, commodity hedging, solar installation and offtake, wind and distributed generation, and solar retail products for residential customers in Texas.
MP2 was recently recognized on DNV GL's Channel Partner Market survey for customer satisfaction and ease of doing business, and ranked No. 1 in overall satisfaction on ERCG's National ABC Broker Survey. In 2014, the company was honored with The Energy Professionals Association's inaugural Supplier of the Year award. For more information, visit www.MP2energy.com.
Toyota (NYSE: TM), creator of the Prius hybrid and the Mirai fuel cell vehicle, is committed to building vehicles for the way people live through our Toyota, Lexus and Scion brands. Over the past 50 years, we've built more than 30 million cars and trucks in North America, where we operate 14 manufacturing plants (10 in the U.S.) and directly employ more than 44,000 people (more than 34,000 in the U.S.). Our 1,800 North American dealerships (1,500 in the U.S.) sold more than 2.8 million cars and trucks (nearly 2.5 million in the U.S.) in 2015 – and about 80 percent of all Toyota vehicles sold over the past 20 years are still on the road today.
About Priority Power Management
Priority Power Management, LLC is a leading Texas-based independent energy management and consulting services firm to large commercial, industrial and government customers. Priority Power Management provides unbiased and objective energy management services in the areas of energy information, supply and risk management, demand-side management and energy infrastructure solutions. Since its establishment in 2001, Priority Power Management has grown to procure and manage approximately $1 billion of annual energy spend on behalf of clients from its offices in Midland/Odessa, Dallas/Fort Worth, Houston and Abilene. For more information about Priority Power Management, LLC visit www.prioritypower.net.
SOURCE MP2 Energy