Commercial, Distributed Generation, Sourcing Renewables, Wind - March 15, 2016
Iron Mountain inks wind power purchase agreement that 'ensures price stability'
Storage and information management company Iron Mountain announced that it signed a 15-year wind power purchase agreement that will exchange 30% of its North American electricity footprint with renewable energy.
The company also said it agreed to purchase two-thirds of the power produced by a new wind farm, currently under construction in Ringer Hill, Penn., that will provide long-term rate stability and expected annual savings of up to $500,000 in utility costs.
The Ringer Hill turbines will directly provide power for Iron Mountain's entire mid-Atlantic operations — comprising all or part of 13 states, including Washington, D.C. — that currently consume more than 80,000 MW hours of electricity annually, according to a statement. In particular, this wind power purchase will support the energy requirements for Iron Mountain’s emergent data center business, projected to account for as much as 20% of the company’s North American electricity use.
"As the largest operational cost and environmental concern, power has an incredible impact on our data center business," Mark Kidd, senior vice president and general manager, Iron Mountain Data Centers said in a news release. "Locking in a long-term, reliable and renewable energy supply ensures price stability, predictability and superior cost control. The wind power agreement, along with our recent Better Buildings Initiative pledge to reduce energy intensity of 8.75 megawatts, demonstrates a serious commitment to environmental responsibility. This new agreement better positions Iron Mountain and our customers to meet the growing demand for clean, sustainable power."
Iron Mountain signed the agreement in December 2015 with New Jersey Resources, a company that provides natural gas and clean energy services. When the wind farm goes online at the end of 2016, Iron Mountain will become one of the top 25 buyers of renewable energy among the Fortune 1000 and a top 70 energy buyer in the U.S. EPA's Green Power Partnership, a voluntary program that encourages the organizational procurement of sustainable power.
"This agreement, as well as our solar power projects, will deliver bottom-line impact for our business through both operational efficiencies and significant cost savings. And, in turn, we can help our customers to do the same when they choose us for their storage and information management needs," Ty Ondatje, senior vice president of corporate responsibility and Iron Mountain’s chief diversity officer said in a statement.