Commercial, Sourcing Renewables, Wind - September 20, 2022
Citizens to Match 100% Power Consumption with RECs
Citizens announced that it has entered into a PPA with Ørsted, supporting the construction of the Sunflower Wind Project, which will match 100% of Citizens’ power consumption across its entire operational footprint with renewable energy credits.
“The Sunflower Wind Project marks an important milestone for Citizens as we continue our journey to support a more sustainable future alongside our customers, colleagues, shareholders and communities,” said Beth Johnson, Chief Experience Officer and Head of ESG at Citizens in a statement. “We’re proud that this project will bring more renewable energy into the power grid and stimulate the local economy.”
The Sunflower Wind Project is a 200 MW wind generation facility in Marion County, Kansas. Ørsted began construction of the project in 2022 and by 2023 it is expected to generate enough electricity to power approximately 96,000 homes annually. Citizens’ share of the project is 25.8 MWs.
Citizens is making a long-term commitment to buy a share of the renewable electricity produced by the wind project. The electricity generated will be delivered to and resold in the local electricity grid while Citizens utilizes the associated renewable energy credits (RECs) to achieve 100% renewable power.
The bank seeks to provide financing for green technologies and businesses, such as renewable energy and to develop sustainability-linked products and innovation.
Later this year Citizens will issue its inaugural climate report, aligned with the recommendations from the Task Force on Climate-Related Financial Disclosures.