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.
Toyota's new North American headquarters is scheduled to open in May 2017.
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