Renewable Power Direct (RPD) has signed Iron Mountain, a global provider of storage and information management services, to a new power supply agreement to fulfill a portion of the electrical load for Iron Mountain’s Texas operations.
The power will be sourced from NextEra Energy and its Blue Summit wind farm outside of Vernon, Texas. RPD developed a unique product structure for Iron Mountain that combines the benefits of green power with a structured indexed pricing product to reduce their exposure to market volatility.
Additionally, this product structure provides a rigorous chain of custody and ease of contracting in verifying the purchase and use of this energy source, enabling Iron Mountain to clearly and accurately report its usage of renewable energy.
This represents the second green energy supply agreement arranged by RPD for Iron Mountain, following a separate agreement arranged by RPD for its New Jersey and Pennsylvania operations earlier this year.
“RPD’s contracts are a great complement to our longer-term power purchase agreements,” said Kevin Hagen, director of Corporate Responsibility for Iron Mountain. “A big barrier to purchasing renewable energy for many companies has been the complexity of the deals. With this contract, RPD has crafted an offer that we can execute alongside our other deregulated market transactions.”
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