Plains All American has teamed up with Catalyze, a leading clean energy transition company, in a long-term power purchase agreement. The partnership includes the construction of a pioneering solar facility and energy storage system at Plains’ Patoka Terminal in Vernon, Ill. This development is set to contribute to Illinois’ ambitious goal of increasing renewable energy usage by 2040.

Renewable Energy Empowered by Financing:
Catalyze, known for its expertise in financing, building, owning, and operating renewable energy projects, has secured a 25-year power purchase agreement with Plains All American. The agreement enables Catalyze to construct a state-of-the-art 6.6-MW DC solar facility along with a 5 MWh energy storage system at Plains’ Patoka Terminal. Such an alliance showcases the shared commitment to deliver critical energy resources while striving to minimize the carbon footprint associated with the operations.

Illinois Shines: Driving Local Solar Adoption:
Highlighting the emphasis on promoting renewable energy within the state, this project is partly financed by Illinois Shines, a program initiated by the Illinois government. Illinois Shines aims to incentivize the adoption of on-site solar energy systems among local businesses. By utilizing this state-run program, Catalyze unveils its dedication to fostering sustainable energy practices and contributing to Illinois’ broader clean energy objectives.

A Sustainable Partnership:
Under the terms of the agreement, Catalyze assumes responsibility for designing, constructing, and operating the solar-to-electrical conversion systems on approximately 60 acres of leased land at the Plains Patoka Terminal. In turn, Plains All American will purchase the generated clean energy to power its operations at the facility for a span of 25 years. This collaboration attests to the collective efforts in forging long-term, sustainable solutions that drive a cleaner, greener future.

Optimism for the Future:
Terrill Laughton, Catalyze’s Chief Commercial Officer, expresses great enthusiasm and optimism regarding the partnership. Laughton views this opportunity as a means to support Plains’ ongoing efforts to provide essential energy resources while simultaneously reducing the carbon footprint associated with its operations through innovative solar and storage systems. Such collaborations play a key role in pushing the boundaries of renewable energy adoption and aiding the transition towards a more sustainable future.

The signing of the long-term solar and storage development deal between Catalyze and Plains All American marks a significant milestone for clean energy initiatives in Illinois. As the partnership gains traction, industry leaders are hopeful that other businesses will follow suit, embracing similar sustainable ventures. With Catalyze’s expertise in finance and renewable energy solutions, coupled with Plains’ commitment to clean energy, this collaboration demonstrates a shared dedication in driving the adoption of renewable energy and working towards a greener future.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The energy market is highly volatile, and readers should conduct thorough research before making any investment decisions.