BNB Renewable Energy Holdings (BNB) was founded in 2004 to develop renewable energy projects in the United States. The company was established by its three founders: Jonathan Butcher, CEO of Butcher Energy, Matthew Baird, Manager, M. Baird & Co., and Jos Nicholas, founder of Comina Inc. In 2008, Stephen Westerberg, Senior Managing Director with Colliers International joined the team, becoming a Partner of BNB Energy Holdings in 2009.
Initially BNB focused on acquiring acreage for wind farming in West Texas where M. Baird and Company had maintained real estate interests dating back to the construction of the Texas and Pacific Railway in 1874. Efforts to assemble our first project, Bull Creek Wind Farm, began in the Fall of 2004. By 2005, as wind farming activity grew quickly in Texas, BNB sought a partner to join Bull Creek Wind, and entered into a joint development agreement with Eurus Energy America, a San Diego based subsidiary of Eurus Energy, a Tokyo company that is wholly owned by Toyota and Tokyo Electric Power. Eurus and BNB worked in tandem to develop Bull Creek from March of 2007 to December of 2007, when BNB sold its remaining interest in Bull Creek Wind LLC.
From December 2007 to December 2008, BNB was retained by Bull Creek Wind to perform ongoing services and to assist Eurus in securing an interconnection agreement and tax abatement for the plant. Bull Creek Wind with a nameplate capacity of 180MW, which came online in December of 2008, comprises approximately 12,000 acres of the 140,000 acres that BNB maintains under lease in Borden, Lynn, Dawson and Garza counties.
BNB’s utility scale development activities in Texas for both Wind and Solar are primarily located in CREZ (Competitive Renewable Energy Zone) 9A, encompassing two of the top 25 sites in the state for renewable energy development as identified by the Texas Public Utility Commission (PUC). BNB was an original intervener in the Public Utility Commission’s CREZ process and maintains an active presence in the ongoing proceedings. BNB advocated and continues to press for transmission upgrades that would benefit wind and solar development in Borden, Dawson, Lynn, and Garza Counties. Due to its involvement as an intervener, BNB has certain dispatch priority rights in the Central West Texas and Central Texas CREZ, and expects to eventually procure 600-1000 MW of CREZ dispatch rights.
As part of BNB’s “inside the fence” renewable energy generation development strategy, BNB is working with Fortune 500 companies on sites across the country. In June of 2011, BNB Napoleon Solar LLC, will begin construction of a 9.7MW Photovoltaic Solar project in Napoleon OH at the site of Campbell Soup Company’s largest production facility in the US. BNB will own and operate the solar facility, Campbell Soup Company will purchase the power and First Energy Corporation will purchase the Solar Renewable Energy Credits generated from the plant.
Since Bull Creek Wind was brought online in December 2008, BNB has acquired significant additional acreage in Texas, and continues its development of Wind and Solar power plants in Texas, Ohio, and Montana. BNB anticipates developing in excess of 500MW of renewable energy in Texas in the next three years on its current leases.
BNB is also presently in discussions with several Fortune 500 companies and independent commercial real estate owner/operators in New Jersey, Ohio and Texas to develop user hosted, utility scale Wind and Solar energy power plants. These projects will support existing corporate responsibility and strategic energy goals of the hosting companies and will utilize net metering and renewable energy credits available in these states, as well as the 1603 US Treasury’s Investment Tax Credit and 100% depreciation initiatives.