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Global automotive interior systems supplier, Toyota Boshoku America Inc (TBA) announces that it has signed a 12 year agreement to purchase a portion of the renewable energy certificates (RECs) associated with a recently completed 252 MW solar facility developed by Clearway Energy Group in Texas.
Location
The renewable energy certificates (RECs) generated from the recently completed Texas Solar Nova 1 solar farm are located in Kent County, TX. This is the first of a two-phased 452 MW solar complex developed by Clearway Energy Group (Clearway).
This 12 year REC agreement provides Toyota Boshoku America with renewable energy certificates generated by the project every year starting in 2026. This is TBA’s first renewable energy procurement at scale in the U.S. and will enable the company to effectively offset 100% of its annual electricity consumption in its U.S. and Canada facilities with renewable energy.
Timeline
By 2050 Toyota Boshoku America, through the renewable energy procurement deal hopes to make significant strides towards its target to reduce Scope 1 and Scope 2 greenhouse gases (GHG) – direct and certain indirect emissions, respectively – by 100% by 2035 from a 2019 base year, and its commitment to become carbon neutral. The 452 MW solar farm is being constructed in two phases, with Texas Solar Nova 1 completed in December 2023 and the second phase nearing completion. TBA’s contract and commitment as a buyer of a portion of the renewable energy attributes ensured that the project would meet all financing targets and milestones necessary to bring the project online.
significance:
TBA Vice President of Production Control highlighted that the company is thrilled to reach this agreement with Clearway for renewable energy certificates. He added that one of the company’s core values is to do what is right and contribute to society with a significant part of this value is to ensure they are doing their part to protect the environment for generations to come. This contract along with other activities they continue to undertake show the company’s ongoing commitment to achieve carbon neutrality by 2050
“We take great pride in our instrumental role in enabling TBA to swiftly and effectively reach their target of 100% renewable energy consumption in the U.S. and Canada,” stated John Powers, VP, Renewable Energy and Cleantech, Schneider Electric. He added that the collaborative relationship has been pivotal in shaping TBA’s renewable energy strategy, underscoring their dedication to fast-tracking sustainable progress. They are also eagerly anticipating collaborating with them on the subsequent phases of their decarbonisation journey globally.
Project cost
Phase One of the USD 660 million Texas Solar Nova project was finalised in December, while the second part of the project is nearing completion, according to a statement.
Valerie Wooley, Senior Vice President of Origination at Clearway said that TBA’s commitment in achieving its sustainability goals is helping power the clean energy transition. He also added that he was proud that their solar project in Kent County will help TBA achieve its goals through a long REC agreement.
RECs generated from this solar farm will be listed with the Center for Resource Solutions (CRS), so it will meet all requirements for certification pursuant to the Green-e Renewable Energy Standard for the U.S. and Canada.
Schneider Electric, the leading advisor on corporate renewable energy procurement globally, supported the Company in the selection of and negotiations for the project.
About Toyota Boshoku America
Toyota Boshoku, one of the world’s premium interior systems suppliers and filter manufacturers, develops and produces interior, filtration, and powertrain components. With world headquarters in Kariya City, Japan, Toyota Boshoku Corporation owns Toyota Boshoku America, Inc. (TBA) based in Erlanger, Kentucky. TBA and its affiliates employ over 14,000 Team Members in 23 locations throughout the United States, Canada, Mexico, Brazil, and Argentina. TBA Group is a premier manufacturer of automotive interior systems, which include seat, door trim, headliner, substrate, and carpet in addition to air and oil filters for a variety of customers such as Toyota, BMW, and Subaru. |
