Investment Management Firm Selects Energy Supplier To Match U.S. Employees' Office And Home Electricity Use With Renewable Energy

Enel Green Power North America and Wellington Management, an investment management firm, have agreed to terms for a 10-year virtual power purchase agreement (VPPA) for an 11 MW portion of the energy delivered to the grid by Enel Green Power's Rockhaven wind project.

The arrangement, which is subject to definitive agreements, covers approximately 48 GWh of wind energy annually and the associated renewable energy certificates (RECs) Wellington Management

Under the agreed terms, the clean energy contracted for Wellington Management is expected to equal or exceed the electricity needs for all of Wellington's US corporate offices as well as residential electricity usage of more than 2,200 employees in the US.

"This deal represents an innovative model for corporate renewable energy buyers by enabling them to address the new, more decentralized, nature of post-COVID operations as many workers shift from office to remote work," the companies said

"As more companies adopt long-term remote work models post-pandemic, their electricity usage will inherently shift from a centralized office to their employees' homes. This progressive, first-of-its-kind partnership with Wellington demonstrates how businesses can evolve their sustainability planning to meet the needs of this new operational landscape," said Georgios Papadimitriou, Head of Enel Green Power in the US and Canada.

Enel Green Power's 140 MW Rockhaven wind project, which is currently under construction, is located in Carter and Murray Counties in Oklahoma and is expected to achieve commercial operation by the end of 2021.

Enel Green Power North America operates 58 renewable energy plants in North America with a managed capacity of over 6.7 GW.