Commercial, Solar, Sourcing Renewables - January 22, 2024
Bloomberg Signs Solar PPA
Bloomberg, a global media company, signed a power purchase agreement (PPA) for 80 MW of renewable energy generated by the Mockingbird Solar Center, currently under construction near Paris, Texas.
The agreement was signed with Ørsted, a U.S. clean energy developer. This project is Ørsted's largest solar project in the U.S., as well as the company's first project to incorporate conservation efforts with the protection of native tallgrass prairie.
Bloomberg is one of four corporate customers buying power from the Mockingbird Solar Center, including Covestro and Royal DSM. This agreement brings the Mockingbird project to a fully contracted status for its 471 MW capacity.
In 2016, Bloomberg joined the RE100, a global corporate initiative comprised of businesses committed to sourcing 100% of their electricity from renewable energy. In 2022, the company secured 192,533 MWh of renewable energy from 11 projects, which represents 54.6% of Bloomberg's global purchased electricity.
Bloomberg expects the additional renewable energy sourced from the Mockingbird Solar Center will cover 100% of its U.S. electricity usage and 80% of global electricity usage.
"We look forward to partnering with Ørsted on the purchase of renewable energy to progress our RE100 target while also meaningfully contributing to conservation efforts," said Dave Wildman, Global Head Facilities, Sustainability Ops, MEP Infrastructure at Bloomberg in a statement.
This agreement is a major step towards advancing Bloomberg's climate commitments to lower GHG emissions, which include both near and long-term science-based emissions reduction targets validated by the Science-Based Targets initiative (SBTi) and a RE100 commitment to obtain 100% of their electricity from renewable sources by 2025.
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