Commercial, Solar, Sourcing Renewables - March 28, 2024
UnitedHealth Group Announces Renewable Energy Investments
UnitedHealth Group launched new renewable energy investments to support emissions reduction targets, including its first virtual power purchase agreement.
The health insurance company signed two renewable energy initiatives: a 15-year VPPA with Ørsted and a separate investment in a renewable solar project owned by Swift Current Energy.
UnitedHealth Group’s VPPA will buy power from Ørsted’s Mockingbird Solar Center in Lamar County, Texas, which will achieve commercial operation later in 2024.
Through the 15-year, 250-megawatt agreement, UnitedHealth Group will purchase clean energy generated by the solar facility and receive the RECs through 2039.
In addition, UnitedHealth Group invested $81 million in the Tres Bahias solar project — the largest project of its kind in Calhoun County, Texas. The Tres Bahias project is now operational and generating enough energy to power 40,000 U.S. homes annually. UnitedHealth Group bought RECs from 70 megawatt-hours (MWh) of capacity from the project, resulting in pollution-free energy annually for seven years. Swift Current Energy will be the long-term owner and operator of this project.
“These are important projects that will generate a new source of renewable energy while also reducing carbon emissions. We look forward to seeing the impact of these investments as we continue our work to build healthy, sustainable communities,” said Patricia Lewis, executive vice president and chief sustainability officer, UnitedHealth Group, in a statement.
These two projects will supply UnitedHealth Group with enough renewable energy for 89% of its U.S. electrical load and 58% of its total global energy load.
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