Apple, Akamai, Etsy, and Swiss Re announced an agreement to develop two new wind and solar energy farms in Illinois and Virginia. Spearheaded by Apple, the new projects will generate 290 MW to the PJM electric grid, serving much of the Eastern United States including areas of Virginia, Illinois, Pennsylvania, New Jersey, and Maryland.
The two new projects are expected to provide enough power for 74,000 average homes, and will support each of the companies’ operations.
“At Apple, we’re proud to power all of our operations around the world with 100% renewable energy,” said Lisa Jackson, Apple’s Vice President of Environment, Policy and Social Initiatives. “In the process, we’ve charted a course for other companies and organizations to purchase renewable energy and transition their own operations to greener power. The collaboration announced today shows how companies of all sizes can address climate change by coming together.”
Akamai, Etsy and Swiss Re previously had limited opportunity to access large renewable energy projects in the regions covered by the thirteen state PJM wholesale electric market. By collaborating with Apple, these companies were able to access wind and solar power from the new projects at competitive prices and agreement terms. Collaborations like this accelerate the pace at which new renewable energy generation is built and brought online.
“For Akamai, this collaboration was critical in closing these deals; and, in conjunction with our Texas wind project signed last year, we are on target to achieve our 2020 global renewable energy goal,” said Jim Benson, Akamai EVP and CFO.
The group, with technical assistance from 3Degrees, will collectively purchase 125 MW from a wind farm near Chicago and 165 MW from a solar PV project outside Fredericksburg, Virginia, which will be delivered to the electric grid covered by the PJM wholesale electric market. The projects are expected to come online over the next two years. The solar and wind projects will be developed by sPower (an AES and AIMCo company) and Geronimo Energy, respectively.
“Etsy is excited to be a part of a project that will benefit both the planet and our customers,” said Rachel Glaser, Etsy Chief Financial Officer. “This agreement will help Etsy to meet our goal of powering operations with 100% renewable electricity while also innovating by paving the way for small companies to participate in the renewable energy market.”
“We commend Apple’s leadership in this collaboration between them, Akamai and Etsy. Without this group of forward-thinking companies this project would not be a reality,” said Ryan Creamer, CEO of sPower.
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