Global energy developer Ørsted announced that it has signed a long-term, 15-year renewable energy power purchase agreement (PPA) with business and financial markets information service provider Bloomberg.
Under the new agreement, Ørsted will provide Bloomberg with 80MW of energy generated by its Texas-based Mockingbird Solar Center project, currently under construction.
Bloomberg has committed to source 100% of its electricity from renewable energy by 2025, as a part of its commitment as a member of global corporate initiative RE100. With the new agreement with Ørsted in place, the company now expects to be able to cover 100% of its U.S. electricity usage, and 80% of its global electricity usage with renewable energy.
Dave Wildman, Global Head Facilities, Sustainability Ops, MEP Infrastructure at Bloomberg, said:
“We look forward to partnering with Ørsted on the purchase of renewable energy to progress our RE100 target while also meaningfully contributing to conservation efforts.”
Ørsted announced its final investment decision in early 2023 to proceed with the Mockingbird project, based near Paris Texas. The 471 MW solar project covers an area of 4,900 acres, and is expected to be able to generate enough renewable energy to power more than 80,000 homes annually, making it Ørsted’s largest solar project in the U.S. The project is also Ørsted’s first project to incorporate conservation efforts with the protection of native tallgrass prairie, through a 1,000-acre preservation agreement between the company and The Nature Conservancy (TNC).
The PPA with Bloomberg brings the Mockingbird project to a fully contracted status, with additional deals in place with companies including Covestro and Royal DSM.
Monica Testa, Head of Origination, Americas at Ørsted, said:
“Ørsted’s commitment to the responsible development of clean energy at Mockingbird Solar Center demonstrates that conservation and clean energy can coexist. We’re proud to partner with Bloomberg in support of their sustainability goals and thrilled to see companies continue to prioritize the responsible development of clean energy in line with nature.”