Invenergy LLC announced Feb. 9 that it has signed a 120-MW wind power purchase agreement (PPA) with manufacturer 3M Co. to provide renewable energy to help support its operations across North America.
“3M is a global company with a commitment to sustainability and we’re very proud to help them strengthen that commitment with this agreement,” said Invenergy Vice President of Sales and Marketing Craig Gordon. “Corporate off-site renewable energy procurement is one of the most exciting changes we’ve seen recently in our industry as the sector nearly tripled from 2014 to 2015 with more than 3,400 MW announced. We expect 2016 to be another strong year for direct corporate procurement.”
The agreement with 3M includes the sale of wind energy from the Gunsight Wind Energy Center located in Texas. Energy from the 120-MW project will be delivered into the Electric Reliability Council of Texas (ERCOT) grid. With the addition of Gunsight, Invenergy will operate more than 1,700 MW of power plants in Texas.
“This agreement is an important and significant step toward accomplishing our company goal of increasing renewable energy to 25 percent of our total electricity use by 2025,” said Jean Bennington Sweeney, vice president, 3M Environment, Health, Safety and Sustainability.
In January, Invenergy announced a 225-MW wind power purchase agreement with internet company Google to provide the company with renewable energy to help support all of its data centers worldwide. And in late 2015, Invenergy also announced two separate wind power purchase agreements with Equinix Inc. and another Fortune 500 corporation to provide the companies with renewable energy to support their corporate sustainability goals. Each of those agreements, along with the PPA with 3M, brings Invenergy’s total corporate customer renewable energy portfolio to 570 MW.
Invenergy Wind LLC on Jan. 8 announced that it had arranged debt and tax equity project financing for the Gunsight Wind Energy Center, which currently is under construction in Howard County, Texas. Cooperative Centrale Raiffeisen-Boerenleenbank B.A., “Rabobank Nederland,” New York Branch acted as the Sole Lead Arranger, Administrative Agent, and Lender for the construction financing. Invenergy’s Gunsight facility will have the capacity to generate approximately 120 MW from 67 General Electric 1.79-MW wind turbines when commercial operation commences in June 2016.
Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas, and Europe. Invenergy’s home office is located in Chicago and it has regional development offices in the United States, Canada, Mexico, Japan, and Europe. Invenergy and its affiliated companies have developed more than 10,300 MW of projects that are in operation, in construction, or under contract, including wind, solar, and natural gas-fueled power generation projects and energy storage facilities.