Finance | Page 34

Global power equipment company Cummins Inc. has made its first wind energy investment in signing a virtual power purchase agreement to offset the amount of electricity used at its Indiana facilities.

Continuing work to expand its renewable energy portfolio, The Home Depot announced plans to install rooftop solar at 50 stores, with California and New York locations utilizing energy storage.

As the use of green bonds continues to increase among U.S. corporations, Digital Realty in 2016 became one of the first REITs, and the first data center REIT, to successfully complete an issuance. Proceeds have since been used to help fund nine projects across four countries.

Zurn Industries, a manufacturer of plumbing and other water solution products, has completed a rooftop solar installation at its facility in Paso Robles, Calif.

As Microsoft Corp. in Washington state moves its renewable energy purchasing from its utility to the open market, it will pay a $24 million transition fee, director of sustainability policy Michelle Patron said in a recent TV interview.

The University of Virginia announced July 20 that it signed a 25-year agreement with a proposed 120-acre solar facility in Virginia to purchase all the power generated on the solar farm to contribute to its electricity use on campus.

Microsoft Corp. announced July 13 that the Washington Utilities and Transportation Commission approved a contract that allows the company to directly purchase clean energy from the wholesale market for its Puget Sound campus.

This column from John Hoekstra, vice president of sustainability and cleantech services at Schneider Electric, explains how corporations wanting to increase their use of renewable energy can benefit from the lessons of early adopters in evaluating their options.