June 12, 2017, the Goldman Sachs Group, Inc. took an important step towards its commitment to 100 percent renewable energy for the firm’s global electricity needs. It has signed a long-term Power Purchase Agreement (PPA) with a subsidiary of NextEra Energy Resources, LLC, which will add new renewable energy capacity to the electricity grid.
The agreement will enable the investment and development of a new 68 megawatt wind project in Pennsylvania and is anticipated to facilitate up to 150 construction jobs and result in the reduction of more than 200,000 tons of greenhouse gas emissions per annum once operational.
“We are committed to being a leader in the development of renewable energy,” said Lloyd C. Blankfein, chairman and chief executive officer of Goldman Sachs. “By enabling this new wind project to come online, the agreement will help grow the renewable grid and contribute to the momentum behind a lower carbon economy.”
“We are pleased to advance our partnership with Goldman Sachs and help it achieve its renewable energy goals,” said Armando Pimentel, president and chief executive officer of NextEra Energy Resources, the world’s largest generator of renewable energy from the wind and the sun. “This partnership demonstrates how forward-looking companies like Goldman are re-thinking their energy use, and leading the way with their investment in low-cost, clean energy that is both good for the country and good for their customers.”
Goldman Sachs is a member of the RE100 initiative as part of its commitment to increasing awareness and in support of global best practices for renewable energy procurement. RE100 includes 96 leading corporates committed to 100 percent renewable energy. Goldman Sachs is also a member of the Business Renewables Center, which seeks to accelerate corporate purchasing of renewable energy.
To learn how Prince Law Offices, P.C. can assist you or your business with renewable energy projects, PJM interconnection, real estate, business, FERC, or PUC matters, contact attorney Jeffrey A. Franklin at Prince Law Offices, P.C.