Pioneer Natural Resources Announces Participation in Renewable Energy Projects
Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) today announced the participation in two renewable energy projects that will supply low-cost, renewable power to the Company’s Permian Basin operations and the Texas electric grid
DALLAS--(BUSINESS WIRE)--Oct 27, 2022--
Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) today announced the participation in two renewable energy projects that will supply low-cost, renewable power to the Company’s Permian Basin operations and the Texas electric grid.
Pioneer is working with a subsidiary of NextEra Energy Resources, LLC to develop a 140-megawatt (MW) wind generation facility on Pioneer-owned surface acreage in Midland County. This project is supported by a power purchase agreement with Pioneer, in which Targa Resources Corporation (Targa) will participate and is expected to be operational in 2024. NextEra Energy Resources is the world’s largest generator of renewable energy from the wind and sun and a world leader in battery storage.
Additionally, Pioneer is also a participant in the 160 MW Concho Valley Solar project through Targa’s power purchase agreement, which commenced delivering renewable electricity during October 2022.
