Monolith Materials Inc. (Monolith) and Nebraska Public Power District (NPPD) signed a letter-of-intent to procure enough renewable energy resources to generate two million megawatt-hours annually. NPPD will secure the generation resources and power to the facility delivered by Norris Public Power District, a wholesale customer of NPPD.
Rob Hanson, Co-Founder and Chief Executive Officer, Monolith said: “Renewable electricity is the primary input to our proprietary process. While affordability and reliability are key business considerations, the sustainability of our power supply is also a critical factor for Monolith. We use this renewable electricity to sustainably make essential products for the automotive, industrial and agriculture sectors.”
A $100 million investment, Olive Creek 1 (OC1), Monolith’s first production facility, is already putting into practice the company’s focus on sustainability, utilizing renewable energy credits to offset 100% of its electricity needs. With this agreement, Monolith plans a mix of solar and wind generation resources along with energy storage to provide sufficient renewable power to offset the renewable power needs of its OC1 facility along with its OC2 expansion.
Tom Kent, President and CEO, NPPD said: “The approximately two million megawatt-hours of generation would create a sufficient number of renewable energy credits (RECs) to meet 100% of Monolith’s average annual energy usage and meet their environmental and sustainability goals. While we are adding additional generation resources, NPPD will continue to maintain our highly competitive rates, which was one of the reasons Monolith moved its operations to Nebraska.” Kent noted that to reach that generation figure, the renewable resource projects could be comprised of wind, solar, or a mix of the two.
