The arrangement, which is subject to definitive agreements, covers approximately 48 GWh of wind energy annually and the associated renewable energy certificates (RECs) are equivalent to avoiding 30,000 tons of CO2 from the atmosphere each year.
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.
"Our collaborative research partnership with Woodwell Climate Research Centre has underscored the importance of limiting carbon emissions to avoid the worst effects of climate change” said Wellington Management CEO Jean Hynes. “We are pleased to partner with Enel Green Power on this forward-thinking initiative that will help bring enough new renewable energy online to match our US employees' total office and home electricity usage.”
The deal represents an innovative model for corporate renewable energy buyers by enabling them to address the new, more decentralised, nature of post-COVID operations as many workers shift from office to remote work. The agreement also underscores how Wellington Management continues to move toward its goal of deploying 100 percent renewable energy for its corporate operations in all available markets by 2022.
“As more companies adopt long-term remote work models post-pandemic, their electricity usage will inherently shift from a centralised office to their employees' homes” said Georgios Papadimitriou, Head of Enel Green Power in the US and Canada. “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”.
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.
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