Partnership will secure 300 MW of solar, $500,000 for CPS Energy community priorities May 24, 2022

May 24, 2022 (SAN ANTONIO) — CPS Energy, the largest municipally owned, electric and natural gas utility in the United States, has reached agreement with Consolidated Edison Development, Inc., a subsidiary of Con Edison Clean Energy Businesses, Inc., for a 300 megawatt (MW) solar project to be located in Goliad County, Texas as the first part of its FlexPOWER BundleSM initiative. The selection marks one-third of the utility's goal of adding up to 900 MW of clean, sustainable energy to its power generation mix, and will further strengthen San Antonio's national top five Solar Superstar ranking.

Construction is scheduled to begin next year and is expected to add 250 - 300 temporary jobs with priority hiring from the San Antonio area. As part of the partnership agreement, Con Edison Development will contribute $500,000 over a 10-year period to support one of CPS Energy's community priorities of supporting customers and education. Con Edison Development also will hire up to eight positions from Greater San Antonio and maintain $750,000 in annual spending with local suppliers and vendors through the life of the 25-year agreement. This will result in a $19 million local investment for Bexar and Goliad counties.

"This agreement is a significant step forward for the FlexPOWER Bundle initiative and our community's clean energy strategy," said Mayor Ron Nirenberg. "The way we generate power determines our ability to ensure a sustainable environment. San Antonio is making great advances toward carbon neutrality and CPS Energy's continued leadership in renewable energy is making our progress possible."

"Our vision for a cleaner energy future for San Antonio will be realized through innovative partnerships like this one with Consolidated Edison Development, Inc.," said CPS Energy Interim President & CEO Rudy Garza. "CPS Energy is already a top solar purchaser in Texas, and while we continue to thoughtfully evaluate and identify even more options for our community, the FlexPOWER Bundle is proving to be an initiative that delivers real solutions."

"We are proud to be working with the visionary leaders of San Antonio and CPS Energy in support of their sustainable energy goals," said Mark Noyes, President and CEO of Con Edison Clean Energy Businesses. "In addition to delivering clean solar energy to San Antonio, the operation of the facility will deliver $750,000 in annual economic benefits to the Greater San Antonio area. We are also committing to $500,000 for community support and scholarships as we look forward to being part of the San Antonio community for many years to come."

The FlexPOWER Bundle initiative aims to further diversify CPS Energy's power generation mix, adding up to 900 MW of solar, up to 50 MW of energy storage and up to 500 MW of firming capacity. The bundle is part of the utility's wider plan to replace older generation with newer and cleaner technologies.

Launched in November 2020, a request for proposals for the FlexPOWER Bundle resulted in over 650 proposals from 100 companies across the U.S. and ten other nations, including Japan, England and South Korea. CPS Energy expects to finalize and award all FlexPOWER Bundle contracts within the next few months with the next solar selections expected in the coming weeks.

"Our customers have shared their desire for an affordable but more sustainable energy system," said Garza. "The FlexPOWER Bundle is our response to say that we hear you, that we want the same and are making great strides in that direction."

Currently, CPS Energy's clean power generation portfolio includes 1,049 MW of wind, 552 MW of solar and 10 MW of battery storage resources. The 300 MW project, dubbed Peregrine Solar (Peregrine), is expected to increase CPS Energy's total solar capacity to 852 MW once it comes online. Con Edison Clean Energy Businesses will be solely responsible for the construction, operation, and maintenance costs of the project, while CPS Energy will acquire the solar energy produced at Peregrine through a Power Purchase Agreement of 25 years.

About CPS Energy

Established in 1860, CPS Energy is the nation's largest public power, natural gas, and electric company, providing safe, reliable, and competitively-priced service to 884,811 electric and 366,709 natural gas customers in San Antonio and portions of seven adjoining counties. Our customers' combined energy bills rank among the lowest of the nation's 20 largest cities - while generating $8 billion in revenue for the City of San Antonio for more than seven decades. As a trusted and strong community partner, we continuously focus on job creation, economic development, and educational investment. We are powered by our skilled workforce, whose commitment to the community is demonstrated through our employees' volunteerism in giving back to our city and programs aimed at bringing value to our customers. CPS Energy is among the top public power wind energy buyers in the nation and number one in Texas for solar generation.

About Con Edison Clean Energy Businesses, Inc.
Con Edison Clean Energy Businesses, Inc. (Con Edison CEB) offers a comprehensive portfolio of energy-related solutions, including utility-scale and behind the meter renewable development, construction and operation, battery storage, power marketer and asset management services, and energy efficiency services. Headquartered in Valhalla, New York, Con Edison CEB is part of the Consolidated Edison, Inc. (NYSE: ED) family of companies, which has a corporate history dating back to 1823. Con Edison CEB is the second largest solar energy owner and operator in North America. Consolidated Edison Development, Inc. is a wholly-owned subsidiary of Con Edison CEB.