June 30, 2020
Invenergy Adds 250 Megawatts in Corporate Renewable Purchase Commitments with Verizon and Saint-Gobain North America
The 250-megawatt Blooming Grove Wind Energy Center will support the sustainability goals of Verizon and Saint-Gobain North America through Virtual Power Purchase Agreements (VPPAs)
CHICAGO (June 30, 2020) – Invenergy, a leading privately-held global developer and operator of sustainable energy solutions, today announced that it has entered into two separate Virtual Power Purchase Agreements (VPPA) with Verizon and Saint-Gobain North America for its 250-megawatt (MW) Blooming Grove Wind Energy Center currently under construction in McLean County, Illinois.
Blooming Grove will generate enough electricity to power about 69,000 homes each year. The project, scheduled to be operational at the end of 2020, supports approximately 500 jobs during the 12-month construction period and will create 12 to 15 full-time operations jobs. Over the lifetime of the project, Blooming Grove will invest nearly $120 million in the local community through property taxes, landowner payments, and wages and benefits.
As a leading partner to commercial and industrial renewable energy customers, Invenergy has contracted more than 3,500 megawatts of wind and solar capacity to support 20 different corporate users in reaching their sustainability goals.
“Invenergy’s agreements with Verizon and Saint-Gobain are great examples of how companies across various industries view the increasingly compelling value of renewable energy to meet their energy needs and sustainability targets,” said Ted Romaine, Invenergy Senior Vice President, Origination. “We are proud to support their corporate sustainability goals while delivering substantial economic and social benefits to McLean County, Illinois.”
Verizon, through its 130-MW VPPA, makes an important step towards meeting its commitment to be carbon neutral in its operational emissions by 2035.
"Verizon is committed to doing our part to tackle climate change - our long-term renewable energy agreements are a tangible example of that commitment," said Jim Gowen, Chief Sustainability Officer for Verizon. "We will source at least 50% of our total electricity from renewable energy sources by 2025 and our initiative with Invenergy is an enabling step on the path to that goal."
Invenergy’s 120-MW VPPA with Saint-Gobain North America represents the largest renewable energy deal to date for Saint-Gobain and is a key driver in helping the company reach net-zero carbon emissions by 2050. Through this agreement, Saint-Gobain will receive renewable energy certificates (RECs) that will effectively offset CO2 emissions from electricity that powers its U.S. operations by 40%, resulting in a reduction of Saint-Gobain's overall carbon footprint in the U.S. by 21%.
“As one of the world’s largest building materials companies and manufacturer of innovative material solutions, Saint-Gobain is guided by a vision of a more sustainable future,” said Mark Rayfield, President and CEO of Saint-Gobain North America and CEO of family company CertainTeed. “This agreement is a clear and practical example of Saint-Gobain‘s commitment to achieving carbon neutrality by 2050. We are proud to highlight the importance of renewables in corporate clean energy strategies, especially as they enable us to continue to deliver materials and solutions that sustain life on our planet.”
Blooming Grove is Invenergy’s 15th project developed in Illinois, bringing its development portfolio in the state to approximately 1,850 megawatts. WEC Energy Group (NYSE: WEC), a Milwaukee-based energy services company, has invested in Blooming Grove at 90% ownership interest, and Invenergy retains a minority ownership position.
Invenergy Services, a subsidiary of Invenergy, will provide Operations and Maintenance, Balance of Plant, Energy Management, and Asset Management services under a long-term agreement, adding to its 10-gigawatt global sustainable energy project portfolio.
We are innovators building a sustainable world. Invenergy and its affiliated companies develop, own, and operate large-scale sustainable energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Colombia, Japan, Poland and Scotland. Invenergy has successfully developed more than 24,500 megawatts of projects that are in operation, construction or contracted, including wind, solar, and natural gas power generation facilities as well as advanced energy storage projects. For more information, please visit www.Invenergy.com.
About Invenergy Services
Invenergy Services provides sustainable energy asset owners end-to-end solutions for every aspect of asset management, operations and performance analysis. Invenergy Services currently manages 10,000 megawatts of wind, solar, natural gas and battery storage facilities, including 2,800 megawatts owned by third-parties. With on-site technicians, a state-of-the-art 24/7 Invenergy Control Center, and a progressive safety culture, Invenergy Services helps customers operate with excellence. Learn more at: www.InvenergyServices.com.
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Donya Mansoubi, Manager, Communications