GHG Emissions, Sourcing Renewables, Wind - July 16, 2021
Wellington Management Partners Matches Employees' Electricity Use With Renewable Energy
Wellington Management announced on July 14 that it has signed an agreement for a 10-year virtual power purchase agreement (VPPA). The arrangement covers approximately 48 GWh of wind energy annually and the associated renewable energy certificates (RECs) are equivalent to avoiding 30,000 tons of CO2 from the atmosphere each year.
The clean energy contracted is expected to equal or exceed the electricity needs for all of Wellington's US corporate offices as well as residential electricity usage of more than 2,200 employees in the US.
"Our collaborative research partnership with Woodwell Climate Research Center has underscored the importance of limiting carbon emissions to avoid the worst effects of climate change,” Wellington Management CEO Jean Hynes said in a statement. “We are pleased to partner with Enel Green Power on this forward-thinking initiative that will help bring enough new renewable energy online to match our US employees' total office and home electricity usage."
This deal represents an innovative model for corporate renewable energy buyers by enabling them to address the new, more decentralized, nature of post-COVID operations as many workers shift from office to remote work. The agreement also underscores how Wellington Management continues to move toward its goal of deploying 100% renewable energy for its corporate operations in all available markets by 2022.
Enel Green Power's 140 MW Rockhaven wind project will supply an 11 MW portion of the energy delivered to the grid. The project is currently under construction, is located in Carter and Murray Counties in Oklahoma and is expected to achieve commercial operation by the end of 2021.