Wolverine achieved an important milestone last week in our continuing development of renewable energy. After a lengthy negotiation, Wolverine and Clenera, a proven developer of solar and storage projects, reached an agreement to proceed with a large-scale solar project.

Clenera will construct the 150 MW Gemstone Solar Array on 1,000 acres near Cassopolis, Michigan, and Wolverine will purchase all energy and clean energy attributes over the subsequent 20 years. This project, slated to be commercially operational by the end of 2023, will increase Wolverine’s renewable energy portfolio by more than 70 percent when completed.

What’s in it for Wolverine?  First, the energy profile compliments other assets already in our power portfolio.  Solar tends to be a good performer in the summer, and that was a specific hole we targeted.  Second, our industry is moving toward more carbon-free electricity.  Solar energy should provide a safe addition to our portfolio amidst considerable market uncertainty.  Third, Wolverine found the location, size, price, and market fit to be attractive compliments in balancing our strategic objectives.

Keep in mind that Clenera has a few important milestones to achieve before construction can begin.  Wolverine has walked this path before, and for every project that got built, more than one failed to reach completion, so I urge cautious optimism at this point, and we will celebrate more once the project reaches Commercial Operation.

Reaching agreement on Wolverine’s first large-scale solar project and achieving deal execution resulted from considerable work from some key staff members.  For more than a year Lucas Johnson and Zach Anderson negotiated this agreement.  Ultimately, they secured terms that incentivize completion and further advance Wolverine’s renewable energy initiatives.

I am proud of Wolverine’s demonstrated leadership on carbon-free and renewable energy in Michigan, and I appreciate the support of our members in achieving these goals.