Ever.green Brings Together Eight Diverse Brands to Support Clearway’s Plans to Extend the Life of a 55 MW Wind Farm, Proving All Companies Can Make Clean Energy Impact

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View the full release here: https://www.businesswire.com/news/home/20240306568781/en/

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, March 6, 2024
Information
Tags: 
Climate Change, Environmental Health, Other Energy, Recycling, Utilities, Green Technology, Oil, Gas, Alternative Energy, Environment, Energy, Sustainability, REC, Power purchase agreement, Multimedia, Guarantee of origin, Climate, Clearway, Composition, Climate change mitigation, Arrow Electronics, Corporate responsibility, Climate change, Brooks Sports, Electricity, Electronics, Fouquieria splendens, Corporation, Professional, Arrow, GHG, Wind, Partnership, Renewable energy
Geotags: 
UNITED STATES, NORTH AMERICA, WASHINGTON, TRIMBLE, TEXAS
⚠ generated by AI ↴
Organisation: 
EVER.GREEN, CLEARWAY
Summary
Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240306568781/en/
    Wind turbines being repowered at the Ocotillo Wind Farm in Big Spring, Texas.
  • (Photo: Business Wire)
    “Our ability to fractionalize participation opens access to all companies wanting to have impact in the energy transition,” said Cris Eugster, CEO and Co-Founder of Ever.green.
  • Of nearly 309,000 companies that bought RECs in 2021, only 613 of them did so through bundled PPAs and VPPAs.
  • This move gives corporate buyers the ability to pair REC purchases with tax credits, thus increasing buying impact and reducing costs.


Ever.green, a marketplace for high-impact Renewable Energy Certificates (RECs) and clean energy tax credits, announced today the closing of a multi-year contract with Ocotillo Windpower wind farm (“Ocotillo”), a 55 MW wind farm in Big Spring, Texas repowered by Clearway Energy Group (“Clearway”), a leading U.S. owner and operator of renewable projects. The RECs were purchased on behalf of a number of corporate buyers, including Atlassian, Arrow Electronics, Autodesk, Brooks Running, Compose[d], Medallia, Trimble, and more.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240306568781/en/

Wind turbines being repowered at the Ocotillo Wind Farm in Big Spring, Texas. (Photo: Business Wire)

Wind turbines being repowered at the Ocotillo Wind Farm in Big Spring, Texas. (Photo: Business Wire)

“Our ability to fractionalize participation opens access to all companies wanting to have impact in the energy transition,” said Cris Eugster, CEO and Co-Founder of Ever.green.

Ever.green helps companies accelerate the energy transition through the purchase of high-impact RECs, which helps bring new clean energy projects online by increasing the long-term financial viability of the projects in a material way. Ever.green RECs contribute to the buyer’s corporate sustainability goals, in that they reduce Scope 2 emissions from the electricity used by these companies to run their businesses. All Ever.green RECs are purchased through long-term contracts, in line with GHG practices, and connected to new or repowered projects which are examined closely for their impact on the climate, land, wildlife, and community. These long-term contracts are accessible to companies of all sizes, including those purchasing as few as 1,000 RECs per year (one REC equals one MWh of electricity), equivalent to the average consumption of 100 homes.

“Brooks recognizes the importance of aligning efforts across every level of business to reduce GHG emissions and invest in renewable energy,” said Dave Kemp, Director of Corporate Responsibility at Brooks Running. “Purchasing renewable energy certificates is a critical strategy to achieve our Scope 2 greenhouse gas emissions reduction target. Our partnership with Ever.green and Brooks’ investment in the Clearway Energy project will deliver a clear and immediate impact on climate change and is an important milestone in our Climate Action journey.”

The Ocotillo wind farm began its original commercial operations in 2008. Clearway completed the partial repower in 2023 to extend the life of the renewable asset while leveraging existing infrastructure and continuing to capitalize on the proven wind resource at the site.

Corporate energy buyers have long played a critical role in accelerating the energy transition through the purchase of bundled power and RECs via Power Purchase Agreements (PPAs) and Virtual Power Purchase Agreements (VPPAs). Unfortunately, both of these options are often out of reach for buyers with lower Scope 2 emissions loads, who are only looking to purchase a fraction of the renewable attributes from larger renewable energy projects. Of nearly 309,000 companies that bought RECs in 2021, only 613 of them did so through bundled PPAs and VPPAs.

“We’re proud to be a part of this project and invest in clean, renewable energy sources that will help to create a lasting, positive impact on the environment,” said Nichole Wiley-Marks, vice president of global real estate and sustainability for Arrow.

In addition to keeping a critical renewable energy source online, which is expected to generate enough electricity each year to power more than 19,000 homes for another decade, the Ocotillo repower offers additional environmental and community benefits, including materials and infrastructure reuse, minimal land-use and wildlife impact. The partial repower is expected to also provide an additional $2 million in property taxes to Howard County and continued landowner lease payments for the extended life of the project.

In 2023, Ever.green announced a partnership with Baker Tilly, a top ten tax advisory and assurance firm, to launch the first digital marketplace for clean energy tax credits. This move gives corporate buyers the ability to pair REC purchases with tax credits, thus increasing buying impact and reducing costs. For more information about Ever.green’s marketplace for high-impact RECs and tax credits, please contact Liz Pearce at [email protected].

About Ever.green

Ever.green is the trusted marketplace for buying and selling high-impact RECs and clean energy tax credits. Its mission is to empower businesses of all sizes to meaningfully participate in the energy transition. Companies like Atlassian, REI, and Watershed use Ever.green to meet their sustainability goals and invest in the energy transition. Ever.green offers streamlined diligence, transaction, and compliance services to reduce risks and maximize impact for all parties. Ever.green is headquartered in Seattle, WA. For more information, visit www.ever.green.

About Clearway

Clearway Energy Group is leading the transition to a world powered by clean energy. Along with our public affiliate Clearway Energy, Inc., we own and operate 10 gigawatts of renewable and conventional energy assets across the country. As we develop a nationwide pipeline of new renewable energy projects for the future, Clearway’s 8 gigawatts of operating wind, solar, and energy storage assets offset the equivalent of more than 10.5 million metric tons of carbon emissions for our customers today. Clearway Energy Group is headquartered in San Francisco with offices in Carlsbad, Calif.; Scottsdale, Ariz.; Houston; and Princeton, N.J. For more information, visit clearwayenergygroup.com.

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