Rudy D. Garza, President & Chief Executive Officer (CEO)
CPS Energy
CPS Energy
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This addition will bring the utility’s total battery energy storage to 400 MW under contract
August 28, 2024 (SAN ANTONIO) – CPS Energy, the largest municipally owned electric and natural gas utility in the United States, has entered into two storage capacity agreements (SCAs) with Eolian L.P. (Eolian) for a total of 350 megawatts (MW) of battery energy storage, adding to a 50 MW SCA signed with Eolian in 2023, as the utility continues the execution of its Vision 2027 generation plan.
The battery energy storage projects, called “Ferdinand” and “Padua 2”, have a storage capacity of 200 MW and 150 MW, respectively. Both projects are located in South Bexar County, Texas and will be newly constructed and expected to be online in the first half of 2026. Having storage resources strategically located in CPS Energy’s service territory contributes to overall grid resiliency and benefits customers.
Not including the 10 MW operational in the current portfolio, the signing of these SCAs brings CPS Energy’s total battery storage capacity under contract to 400 MW combined.
Dykema Gossett PLLC served as external legal advisor to CPS Energy in connection with the negotiation of the SCAs.
“I am proud of the work CPS Energy has done to secure another 350 MW of generation for our growing community,” said Rudy D. Garza, President & CEO of CPS Energy. “This is another step in executing on our Vision 2027 generation plan and we are excited about the benefits it will provide to our community through both reliability and economic development.”
“Following on to the 50 MW Padua 1 project already under construction for CPS Energy, this additional 350 MW of four-hour duration battery energy storage will provide new dispatchable capacity to the San Antonio area by mid-2026, representing the single largest buildout of standalone battery energy storage in ERCOT to date and proving that deployment of fast and flexible energy storage resources at critical grid locations can bridge the many years until new transmission can be constructed to further support load growth and alleviate systemwide congestion,” added Aaron Zubaty, CEO of Eolian. “These project locations were carefully chosen years ago to actually reduce the burden on the transmission system and enhance overall market operations by providing resiliency and reliability within load pockets and adjacent to retiring thermal generating units while reducing congestion on key transmission pathways.”
The projects are expected to help serve the energy needs of the San Antonio community for a 20-year period. As part of a related community benefits agreement, the project entities will contribute at least $175,000 each year to CPS Energy sponsored activities and scholarships within the Greater San Antonio area for a five-year period once the projects are operational.
In January 2023, the CPS Energy Board of Trustees approved a generation plan as part of the utility’s Vision 2027 plan to power the community into the future. CPS Energy has since added 1,710 MW of owned natural gas generation, 500 MW of natural gas firming capacity, an additional 84 MW of wind capacity, and contracted 730 MW of solar energy and 50 MW of storage.
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About CPS Energy
Established in 1860, CPS Energy is the nation’s largest community-owned provider of electric and natural gas services. We provide safe, reliable, and competitively priced services to 907,526 electric and 373,998 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 $9 billion in revenue for the City of San Antonio over the last 80 years. Our Vision 2027 strategic plan is designed to guide CPS Energy through rapid transformational change in our city. As a trusted and reliable 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, our community engagement efforts and programs aimed at bringing value and assistance to our customers.
About Eolian, L.P.
Eolian, L.P. (“Eolian”) operates a growing portfolio of battery energy storage projects and develops and invests in renewable energy and clean molecule projects across the US. For over 20 years, Eolian’s founding management has worked together to build the assets at the core of the company, creating unique and proprietary structures that have directly funded the development of 26 GW of successfully operating energy storage, solar, and wind-generating capacity across the country. Eolian is owned by its employees and funds are managed by Global Infrastructure Partners (GIP), a leading infrastructure investor. For more information, follow Eolian on LinkedIn or visit www.eolianenergy.com.
REAP’s maximum benefit more than doubles; CPS Energy provides an additional $6 million towards the program.
August 26, 2024 (SAN ANTONIO) — The Board of the Residential Energy Assistance Partnership (REAP) voted unanimously to approve the expansion of the assistance program to offer more support to a greater number of CPS Energy customers to cover their bills. The REAP maximum benefit for Bexar County residents outside San Antonio will increase from $400 to up to $1,200. Additionally, the income qualification criteria for the Federal Poverty Level (FPL) will change from 125% to 150%. This revised income qualifier will enable more customers to qualify and aligns with the change in qualifying FPL criteria made to CPS Energy’s Affordability Discount Program (ADP) earlier this year.
As part of this expansion and to increase the operation of the program, the utility will make a one-time $6 million contribution from the utility’s summer 2023 wholesale revenues.
The expansion was voted on during a special board meeting held on August 14, 2024. Bexar County and CPS Energy staff worked collaboratively to present the approved proposal to REAP board members which includes REAP Board President, Bexar County Judge Peter Sakai, President & CEO Rudy D. Garza who serves as REAP’s vice president and City of San Antonio (CoSA) Mayor Ron Nirenberg who serves as secretary/treasurer.
“Bexar County proposed changes to expand access to utility assistance. I want to thank CPS Energy and the City of San Antonio for collaborating to make this happen. We will work to ensure our most vulnerable neighbors take advantage of this program,” said Bexar County Judge and REAP’s Board President Peter Sakai.
“As part of Vision 2027, CPS Energy’s strategic plan, we are committed to supporting our community and being a good partner. By increasing support of REAP, in partnership with the City and the County, we are providing additional resources to those most in need,” said Rudy D. Garza.
“The expansion strengthens our community’s safety net by ensuring that more CPS Energy customers have access to assistance with their utility bills,” said Mayor Ron Nirenberg. “REAP helps customers in unstable economic situations make ends meet, easing financial pressures and reducing the risk of crisis. These clearly merited changes will boost the entire community.”
REAP is a non-profit established in 2002 through a partnership between CPS Energy, the City of San Antonio, and Bexar County. CPS Energy contributes $1 million annually directly to the REAP fund and works throughout the year to raise additional funds for the program. CPS Energy handles the program’s marketing, fundraising, and back-office administrative requirements. The City of San Antonio and Bexar County manage the application process. This program is one of CPS Energy’s commitments to provide help to pay energy bills for customers who qualify for assistance. Through REAP, qualified customers receive a credit on their CPS Energy bill and receive information about weatherization, low-cost to no-cost energy efficiency programs, senior citizen aid, and critical care assistance.
For more information about REAP and how to apply, visit here.
SAN ANTONIO, Texas, May 6, 2024 – CPS Energy has entered into an agreement to acquire an additional 2% ownership of the South Texas Nuclear Project (STP) from Constellation. When the transaction closes, it will bring CPS Energy’s ownership of STP to 42%, Constellation’s to 42%, and Austin Energy’s ownership will remain at 16%. Additionally, CPS Energy entered into a long-term Purchase Power Agreement (PPA) with Constellation for an additional 200 megawatts (MW) of firm capacity that will be available for CPS Energy customers in time for this summer.
On May 2, 2024, CPS Energy, Austin Energy, NRG, and Constellation resolved their disputes regarding the proposed sale of an interest in the South Texas Nuclear Project (STP) by NRG to Constellation South Texas LLC and the related rights of first refusal of CPS Energy and Austin Energy. As part of this resolution, CPS Energy and Austin Energy will dismiss their pending litigation against NRG and Constellation and will withdraw their objections previously filed with the Nuclear Regulatory Commission.
“The addition of these megawatts to our system supports reliability for our customers as we enter another summer season,” said Rudy D. Garza, President and CEO of CPS Energy. “CPS Energy continues to stay focused on our Vision 2027 plan and will continue our focus on reliability for our growing community.”
The additional 2% ownership of STP for CPS Energy will equate to an additional 52 MW of carbon free dispatchable generation to the portfolio and supports CPS Energy’s Vision 2027 plan that contemplates the retirement of 2,249 MW of older generation capacity before 2030. To date, CPS Energy has added 1,710 MW of natural gas, 730 MW of solar energy and 50 MW of energy storage as part of its generation plan, with an additional 500 MW energy storage RFP in the works. These efforts also align with CPS Energy’s commitment to the City of San Antonio’s Climate Action & Adaptation Plan (CAAP), which includes a Board of Trustees resolution to support the CAAP’s goal to become carbon neutral by 2050, and the interim goals of reducing greenhouse gas emissions by 41% from 2016 levels and 71% by 2040.
AN ANTONIO, Texas, May 1, 2024 –Today, CPS Energy announced the closing on the acquisition of Talen Energy Corporation’s (“Talen”) (OTCQX: TLNE) approximately 1,710-megawatt (“MW”) generation portfolio located in the South Zone of the Electric Reliability Council of Texas (“ERCOT”) market for $785 million, subject to customary net working capital adjustments. These assets include natural gas plants in Corpus Christi and Laredo, Texas. CPS Energy and Talen previously announced the transaction on March 27, 2024.
Under the terms of the agreement CPS Energy has acquired all assets associated with the 897 MW Barney Davis and 635 MW Nueces Bay natural gas-fired generation facilities, both located in Corpus Christi, Texas, as well as its 178 MW natural gas-fired generation facility in Laredo, Texas.
This action supports CPS Energy’s generation plan, approved in 2023 by its Board of Trustees, to power the greater San Antonio community into the future by securing an additional 1,710 MWs that are available immediately. The addition of these units aligns with the generation plan, which includes the retirement of older coal and gas units and the addition of a blend of more efficient gas generation along with solar, wind, and energy storage.
“This step marks CPS Energy’s growing role as a regional energy utility, providing additional resiliency and reliability for our customers,” said Rudy D. Garza, President and CEO of CPS Energy. “This acquisition adds critical capacity to our generation portfolio to continue to reliably serve one of the fastest-growing regions in the nation. Our customers will benefit from these investments for decades to come.”
Talen President and Chief Executive Officer Mac McFarland said, “We are pleased to have completed our strategic transaction with CPS Energy. This transaction demonstrates our continued commitment to unlocking significant value for Talen, while also taking care of our people. We are pleased that these assets will support CPS Energy’s efforts to provide reliable and cost-effective power generation through its diverse portfolio to its growing community.”
CPS Energy’s Vision 2027 plan includes its generation plan that contemplates the retirement of 2,249 MW of older and inefficient dispatchable generation capacity before 2030. CPS Energy has added 730 MW of solar energy and 50 MW of energy storage to date as part of its generation plan, with an additional 500 MW energy storage RFP in the works. With the addition of these facilities, environmental emissions will stay on track to meet the City of San Antonio’s Climate Action and Adaptation Plan emissions reduction commitment by 2030. In addition, it provides CPS Energy the flexibility to add more renewable energy and storage with this benefit of firming capacity (power that is available as needed) in place.
The plants in Corpus Christi and Laredo are expected to be operational for the next 25 years. There are a combined total of 66 operations employees at these sites, and they all have retained employment with CPS Energy.
J.P. Morgan acted as exclusive financial advisor and Dykema Gossett PLLC acted as legal advisor to CPS Energy with respect to the Transaction. RBC Capital Markets, LLC serves as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor for Talen.
Did you know that CPS Energy has been working towards making San Antonio a greener and more sustainable city?
For over 20 years, we have contributed towards this goal through our tree donation program, and we are proud to say that we have donated over 30,000 trees to the local community so far!
We are dedicated to planting more trees and have recently partnered to expand the tree canopy in the new Civic Hemisfair Park by sponsoring and rescuing six trees at risk of being cut down and transferring them to this city park.
These six trees have a significant impact on the environment as they help remove about 18 tons of carbon dioxide (CO2), prevent 264 pounds of pollutants, and cut stormwater runoff by 63,017 gallons over the lifetime of the tree.
Some of the CPS Energy-sponsored trees are along the promenade.
So, what’s the benefit of trees besides cleaning the air we breathe?
At CPS Energy, we believe in encouraging sustainable choices. That’s why we’re encouraging our customers to take advantage of the Green Shade Tree Rebate. By purchasing a qualified tree before April 30, 2024, you can earn a $50 rebate while also contributing to a greener San Antonio.
Beyond our efforts to expand the tree canopy, we’ve been making changes to how we operate our power plants to reduce emissions.
We are also supporting the city’s efforts toward carbon neutrality by 2050 by growing solar, wind and exploring other new energy technologies for a more diverse and greener power generation mix to keep the lights on.
CPS Energy’s work in growing solar energy with the community has also paid off. San Antonio is number one in Texas and fifth across the nation for solar energy generation capacity.
In addition, CPS Energy’s Sustainable Tomorrow Energy Plan (STEP) expands on the first phase of programs by making more community solar available, especially accessible for low-to -moderate income customers who may not be able to own rooftop solar panels and still reap the benefits of renewable energy.
STEP also offers customers over 20 energy conservation and energy efficiency programs that save enough power to avoid the need to build a small power plant and cut down on 1.85 million tons of carbon.
We’re committed to providing sustainable energy services for the community, and we’re proud to say that we’ve received recognition from Texan by Nature for our conservation efforts. At CPS Energy, we believe in celebrating Earth Day every day by keeping the power on in a more environmentally friendly way.
April 22, 2024 (San Antonio, TX) — The CPS Energy Board of Trustees voted to approve a contract selecting Oracle America, Inc. as the vendor for the utility’s new Enterprise Resource Planning (ERP) platform. This announcement marks a milestone in CPS Energy’s efforts to modernize its 20-year-old business operating system with Oracle’s integrated utility platform. The approved contract for the software is valued at $70 million and serves as another step in achieving the utility’s promise to invest in critical areas with funds from the recently approved rate increase.
“We are excited to accelerate our digital transformation journey,” said Rudy D. Garza, President & CEO of CPS Energy. “This pivotal step begins the process to revolutionize our internal operations and most importantly, continues our path to provide our customers with more options for how they use our services and do business with us.”
Laying this foundation over the next few years will enable more personalized experiences with customers, expand customer self-service and payment options, and meet community commitments for bill and rate redesign.
CPS Energy will streamline its operations by using Oracle’s utility software to integrate real-time data from finance, supply chain, human resources, administrative, and customer service into a single platform. This technology will create more visibility across all the utility’s divisions, resulting in better analytics, improved operational efficiencies, and more resilient and reliable technology.
“CPS Energy was looking for a proven technology partner to modernize its business and deliver the best possible outcomes for its customers, employees, and communities,” said Safra Catz, CEO of Oracle. “The combination of Oracle’s vertical industry solutions and Fusion Cloud Applications, all running on our secure Oracle Cloud Infrastructure (OCI), will provide CPS Energy with the performance, intelligence, and insights required to drive transformation at scale and generate winning results at every level of the business.”
In addition, CPS Energy’s crews will benefit from the newest field service management tools that will help auto-schedule and dispatch workers faster throughout the service area and improve service restoration times. Oracle’s software will also allow the utility to better track, visualize, and analyze the performance of its assets and maximize the return on investment of capital projects.
The utility’s outdated software infrastructure will be replaced and funded by the 4.25% rate increase that went into effect on February 1, 2024, following community input and approval by the Board of Trustees and San Antonio’s City Council. Beyond the investment in technology, CPS Energy’s rate increase will cover costs to upgrade aging physical infrastructure, invest in more system reliability, physical and cyber security as well as workforce planning.
To learn more about the utility’s ERP transformation program, click here. To learn more about CPS Energy’s Vision 2027, click here.
April 19, 2024 (San Antonio, TX) – CPS Energy announced today that they are the recipient of a $2.45 million grant aimed at replacing aging local gas infrastructure from the Department of Transportation (DOT) and the Pipeline and Hazardous Materials Safety Administration (PHMSA). Under the PHMSA umbrella is the first ever Natural Gas Distribution Infrastructure Safety and Modernization (NGDISM) grant program. Funding under this program exclusively helps municipally owned local distribution gas utilities upgrade or replace portions of their pipeline systems. In 2023, CPS Energy applied for funding to replace over five miles of steel gas pipeline in the western portion of the city.
“CPS Energy is proud to receive this grant from the Department of Transportation,” said Rudy D. Garza, President & CEO of CPS Energy. “We are committed to upgrading infrastructure for our community which will help us continue to serve them with the reliable and safe service they expect from CPS Energy.”
The Infrastructure Investment and Jobs Act (IIJA) was passed by Congress in November 2021, providing commitment for the most significant investment in the country’s infrastructure in more than 50 years. The NGDISM plans to award up to $200 million for each fiscal year from 2022-2026. Objectives from this grant include:
“This first-of-its-kind infrastructure grant program helps modernize older, higher risk, leaky pipes–improving safety, reducing environmental impacts, and saving consumers money on their energy bills” said PHMSA Deputy Administrator Tristan Brown. “These new investments from the President’s Bipartisan Infrastructure Law will also help create hundreds of good-paying pipeline jobs.”
“This grant will provide welcome assistance to help ensure safety and guard our environment by upgrading CPS Energy’s natural gas pipeline infrastructure. Keeping the utility’s infrastructure in good condition is a crucial part of protecting our community and maintaining an efficient distribution system,” said Mayor Ron Nirenberg.
Infrastructure that will be replaced as part of this grant is located on the west side of town in a community with 50% of households in that community having incomes below 60% of the area’s median incomes, or poverty rates of 25% or more. The infrastructure being replaced is part of CPS Energy’s efforts to modernize gas infrastructure in need of upgrades. The project will improve safety, performance and reliability of the utility’s gas system and is expected to be completed by the end of this year.
SAN ANTONIO, Texas –Today, CPS Energy and Talen Energy Corporation (“Talen”) (OTCQX: TLNE) announced an agreement for CPS Energy to acquire Talen’s approximately 1,710-megawatt (“MW”) generation portfolio located in the South Zone of the Electric Reliability Council of Texas (“ERCOT”) market for $785 million subject to customary net working capital adjustments at closing. These assets include natural gas plants in Corpus Christi and Laredo. The transaction is expected to close in the second quarter of 2024.
Under the terms of the agreement, which is subject to customary closing conditions, CPS Energy will acquire all assets associated with Talen’s 897 MW Barney Davis and 635 MW Nueces Bay natural gas-fired generation facilities, both located in Corpus Christi, Tex., as well as its 178 MW natural gas-fired generation facility in Laredo, Tex.
This action supports CPS Energy’s generation plan, approved in 2023 by its Board of Trustees. It secures an additional 1,710 MWs of power for the greater San Antonio community and will be available as soon as this summer. The addition of these units aligns with the generation plan, which includes the retirement of older units and the addition of a blend of gas, solar, wind, and energy storage.
“The purchase of these assets furthers CPS Energy’s commitment to deliver reliable and affordable energy supply to one of the nation’s fastest growing communities, while also balancing our commitment to reduce carbon emissions by 2030,” said Rudy D. Garza, President & CEO of CPS Energy. “The investments we are making to purchase and improve the performance of these plants provide cost benefits when compared to building new assets, which means reliability now at a lower price for our community. In addition to these facilities, as our community continues to grow, we are also adding low and zero-carbon resources as well as energy storage to enable that additional growth.”
Talen President and Chief Executive Officer Mac McFarland said, “This transaction demonstrates our continued commitment to unlocking significant value for Talen, while also taking care of our people. We are happy that these assets will assist CPS Energy in its long-term strategy to serve its growing community with reliable and cost-effective power generation.”
CPS Energy’s Vision 2027 plan includes its generation plan that contemplates the retirement of 2,249 MW of older and inefficient dispatchable generation capacity before 2030. CPS Energy has added 730 MW of solar energy and 50 MW of energy storage to date as part of its generation plan, with an additional 500 MW energy storage RFP in the works. With the addition of these facilities, environmental emissions will stay on track to meet the City of San Antonio’s Climate Action and Adaptation Plan emissions reduction commitment by 2030. In addition, it provides CPS Energy the flexibility to add more renewable energy and storage with this benefit of firming capacity (power that is available as needed) in place.
The plants in Corpus Christi and Laredo are expected to be operational for the next 25 years. There are a combined total of approximately 65 operations employees at these sites, and they will have an opportunity to become CPS Energy employees at the closing of the acquisition.
J.P. Morgan is acting as exclusive financial advisor and Dykema Gossett PLLC is acting as legal advisor to CPS Energy with respect to the Transaction. RBC Capital Markets, LLC is serving as exclusive financial advisor and Kirkland & Ellis LLP is serving as legal advisor for Talen.
March 13, 2024 (San Antonio, TX) – Congressman Joaquin Castro (TX-20) announced that his office has secured $10.6 million through the Fiscal Year 2024 federal appropriations process to support thirteen San Antonio community projects, including $1 million for CPS Energy’s Casa Verde Weatherization Program. The additional funding will expand the reach and impact of Casa Verde, the utility’s energy efficiency program that provides energy-saving upgrades for limited-income residents in San Antonio. This new funding is part of the Community Development Block Grant (CDBG) and will provide home repairs for 500 homes which will make them eligible for weatherization.
“This program has changed the lives of many CPS Energy customers, especially during our extremely hot summers and during the coldest days in winter,” said President and CEO of CPS Energy, Rudy D. Garza. “I would like to express my gratitude to all of the elected officials at the local, state and federal levels who have worked with us to grow these community initiatives. I extend a special thanks to Congressman Castro for his consistent contributions to these efforts.”
“The CPS Energy Casa Verde Weatherization Program is a great example of how smart infrastructure investments can protect the environment and uplift San Antonio families,” said Congressman Joaquin Castro. “Every year, I’m glad to nominate community projects from across San Antonio for well-deserved federal funding to expand their work. The Casa Verde program has a great track record of helping families save on their energy bills while improving energy efficiency, and I was glad to work with CPS Energy to get $1,000,000 in this year’s appropriations package to serve more homeowners across our city.”
Although many residents qualify for the Casa Verde program currently, CPS Energy must unfortunately deny approximately 47% of these applications due to the homes needing additional repairs beyond the scope of the current program (plumbing, electrical, foundation, active roof leaks). In many cases, these additional repairs can be done for under $1,000. With the additional assistance from the grant, more homes will now qualify for the Casa Verde Weatherization Program.
The Casa Verde funding is included in the HR 4366, the Consolidated Appropriations Act, which last week was passed through both houses of Congress and signed by President Biden. CPS Energy submitted the grant application as part of its Vision 2027 strategic plan, which includes the pursuit of grants and other new revenue sources.
The Casa Verde Weatherization Program helps income-qualifying homeowners and renters reduce energy loss and costs with free energy efficiency improvements. CPS Energy plans to invest $82.5 million in Casa Verde to weatherize up to 16,000 homes. Last year, CPS Energy’s Casa Verde celebrated the weatherization of 30,000 homes throughout the San Antonio community .
Casa Verde is part of CPS Energy’s Sustainable Tomorrow Energy Plan (STEP). The STEP program’s goals include 410 megawatts (MW) of energy demand reduction over 5 years with equitable programs designed to help customers save energy and money, 1% energy savings per year systemwide, and 1.85 million tons of avoided carbon. STEP’s award-winning energy efficiency and conservation programs received approval in 2022 for $350 million in funding over five years from the CPS Energy Board of Trustees and San Antonio City Council. This plan includes community solar and multifamily weatherization for low-to-moderate income customers; energy storage; electric vehicle (EV) charging; educational curriculum to promote behavioral changes toward energy conservation; demand response in the form of technology like smart thermostats both in homes and businesses; and support for the commercial sector to become more efficient through traditional energy efficiency rebates and other new programs.
Energy efficiency measures are beneficial for the community and environment as reduced electricity consumption leads to lower greenhouse gas emissions and improved air quality, among other advantages. Energy efficiency is also a critical community contribution to enhance grid reliability in Texas by lowering the demand for megawatts during critical periods.
Casa Verde participants receive:
CPS Energy customers interested in applying for Casa Verde can do so by filling out the application forms in English or Spanish here. To learn more about the Casa Verde program customers can call 210-353-CASA (2272), email CasaVerdeSA@cpsenergy.com, or visit our website at cpsenergy.com/casaverde and cpsenergy.com/casaverde-programa.
CPS Energy is committed to decarbonizing our operations and transitioning to cleaner energy to ensure climate resiliency. In respect to today’s Supreme Court ruling, we are reviewing the ruling and its potential impacts. The City of San Antonio has set climate goals for our community through its Climate Action & Adaptation Plan (CAAP) adopted in 2019, and we at CPS Energy are continuing to work to meet our community’s expectations to achieve the CAAP’s objectives.
Key Recent Actions at CPS Energy:
CPS Energy closed its oldest coal units in 2018, and publicly released a Flexible Path Resource Plan, which details future closures of aging natural gas units and options for closing the final two remaining coal units.
To decrease emissions further, we are reviewing submissions from a global request for proposals to add up to 900 megawatts (MW) of solar energy, 50 MW of battery storage and 500 MW of firming capacity. The addition of these renewable sources will further strengthen CPS Energy’s positions as the largest producer of solar energy in the state and a leader in wind production with our current combined generation of 1,600 MW of wind and solar energy.
In late May 2022, CPS Energy reached an agreement with Consolidated Edison Development, Inc., a subsidiary of Con Edison Clean Energy Businesses, Inc., for a 300 megawatt (MW) solar project 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.
We continue to partner with new technology partners. CPS Energy and Quidnet Energy recently announced a landmark agreement to pilot a long-duration energy storage project.
We are doing our part to reduce vehicle emissions by adopting electric vehicles (EV) in our fleet and supporting the community’s adoption of EVs through a network of public charging stations in our service area and an EV website that helps individuals as they make the decision to go electric.
Discussions are currently underway with our Rate Advisory Committee (RAC) on our generation planning. As CPS Energy remains committed to providing reliable and affordable power, the RAC will make a recommendation for the Board of Trustees to consider.
These efforts align with our Board’s commitment to the city’s Climate Action & Adaptation Plan (CAAP), which includes a resolution to support the CAAP’s goal to become carbon neutral by 2050, and the interim targets of reducing greenhouse gas emissions 41% from 2016 levels and 71% by 2040. The steps we’re taking in our stewardship are captured in our Environmental Sustainability, Community Impact & Financial Highlights Report here.
