PITTSBURGH and HOUSTON, Sept. 30, 2019 /PRNewswire/ -- Carnegie Mellon University (CMU) and ENGIE Resources today announced a series of multiyear energy agreements through 2024 in which the university will purchase energy from the Radford's Run Wind Farm for its Pittsburgh campus. ENGIE Resources and Amerex Energy Services (Amerex) jointly designed a unique structure to procure energy sourced from the Radford's Run Wind Farm in Macon County, Illinois to serve all of the campus' electricity needs. In a separate agreement, CMU secured Green-e® certified Renewable Energy Credits (RECs) to match its energy usage.
After more than a decade of offsetting 100% of its electric power consumption via REC purchases, CMU was interested in an innovative solution to be even more sustainable. With these agreements, CMU encourages wind development across its local power grid without deploying its own capital while demonstrating its commitment to an environmentally responsible campus community. Green-e® RECs are determined by the Center for Resource Solutions to be independently verified to represent the environmental benefits of one MWh of renewable energy. The RECs in this agreement represent the environment benefits equal to the removal of more than 21,000 passenger motor vehicles from highways over two years.
Martin Altschul, Director of Strategic Facilities Initiatives at CMU, said that ENGIE's support of wind projects played a critical role in its selection for retail power. "We believe sustainability is far more than an academic concept or a performance target. It's a way of life that we reflect in our programs, courses, and student-led initiatives aimed at preserving and protecting our natural resources. It's also ingrained in our approach to responsible financial planning. ENGIE shares in our dedication, and we're pleased to have them as an ally in our sustainable business strategy."
"We're proud to work with Carnegie Mellon University on an energy plan that supports both its sustainability and financial goals," said Vikram Kulkarni, Vice President of Sustainability Solutions at ENGIE. "By linking renewable assets, traded markets, and counterparties willing to offset risk, we strive to make the complex easy for our customers, managing all these components to provide provenance to physical renewable energy sources with budget certainty via competitive prices."
John Bolton, Managing Director at Amerex, added, "Bringing ENGIE – a world-class organization known for its commitment to renewables and a strong balance sheet – together with Carnegie Mellon University made a lot of sense. This structure offers a 100% renewable, fixed-price load following solution that provides budget certainty through a simple, standard retail commodity agreement with flexible terms."
About Carnegie Mellon University
Carnegie Mellon (www.cmu.edu) is a private, internationally ranked research university with programs in areas ranging from science, technology and business, to public policy, the humanities and the arts. More than 14,000 students in the university's seven schools and colleges benefit from a small student-to-faculty ratio and an education characterized by its focus on creating and implementing solutions for real problems, interdisciplinary collaboration and innovation.
About ENGIE Resources
ENGIE Resources LLC is a subsidiary of ENGIE North America Inc. and part of the international energy group ENGIE. As a leading electricity supplier to non-residential consumers in the United States, we deliver a combination of products and services, highly rated customer service, and financial strength that provides unique and compelling value to our customers. Now offering solar and other renewable energy options, demand response, and on-bill financing, we assure our customers that they can count on us to create effective, customized plans. Our in-house energy experts work with customers to understand their operations, tailoring products and services specific to their business and budget. For more about ENGIE Resources, visit www.engieresources.com. Follow ENGIE Resources on LinkedIn, Twitter and Facebook.
ENGIE North America
ENGIE North America Inc. offers a range of capabilities in the United States and Canada to help customers decarbonize, decentralize, and digitalize their operations. These include comprehensive services to help customers run their facilities more efficiently and optimize energy and other resource use and expense; clean power generation; energy storage; and retail energy supply that includes renewable, demand response, and on-bill financing options. Nearly 100 percent of the company's power generation portfolio is low carbon or renewable. Globally, ENGIE is the largest independent power producer and a leading energy efficiency services provider in the world, employing 160,000 people. For more information on ENGIE North America, please visit our Instagram, Linkedin, Twitter, or Facebook pages or www.engie-na.com website.
About Amerex Energy Services
Amerex Energy Services is a leading energy consulting firm that advises commercial, industrial, governmental and institutional entities in developing and implementing energy management and sustainability strategies. With 40 years of wholesale and 15 years of retail energy experience, Amerex offers exceptional market intelligence and depth of experience in providing comprehensive energy price risk management services. Amerex Energy Services is the retail consulting division of Amerex Brokers LLC, which is a wholly-owned subsidiary of BGC Partners, Inc. You can learn more about Amerex Energy Services and the BGC family of companies at www.amerexenergyservices.com.
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