CHARLOTTE, N.C., June 29, 2020 /PRNewswire/ — Bank of America introduced at the moment it’s partnering with Duke Vitality to additional broaden its renewable power dedication by powering its headquarters and different Charlotte operations with photo voltaic power.
By way of a renewable power sleeved-power buy settlement (PPA), the corporate is collaborating in Duke Vitality’s Inexperienced Supply Benefit (GSA) program. The bank is the primary firm and monetary establishment to signal a 10-year settlement for electrical energy and Inexperienced-e® licensed renewable power certificates (RECs) by way of this program.
The acquisition of a 25-megawatt (MWAC) photo voltaic undertaking’s electrical energy output and RECs will cowl 45% of Bank of America’s electrical energy load within the state. By collaborating in Duke Vitality’s GSA program, Bank of America additional demonstrates its dedication to scale back its operational impacts on the surroundings, together with being carbon impartial and using 100% renewable electrical energy throughout its world operations.
“These distinctive initiatives and partnerships construct on our achievement of carbon neutrality and broaden our renewable power dedication. By driving extra clear power options in our services, we’re creating a broader sustainable power ecosystem to assist rework our operations and the communities the place our staff work and stay,” stated Andrew Plepler, world head of Environmental, Social and Governance at Bank of America. “These partnerships carry to the forefront inventive considering and revolutionary options to deal with a altering local weather and clear power entry.”
This revolutionary undertaking can be constructed within the Piedmont area of North Carolina. It additionally provides extra clear power to the grid, helps jobs and the native financial system. The undertaking will embrace the set up of a pollinator habitat surrounding 70,000 photo voltaic panels, protecting roughly 180 acres, and is anticipated to be on-line in 2022.
“We proceed to search for new and revolutionary methods to ship extra renewable power to prospects in North Carolina,” stated Stephen De May, Duke Vitality’s North Carolina president. “Prospects need extra flexibility and choices for renewable power and the Inexperienced Supply Benefit makes that occur.”
Silver Pine Vitality, a three way partnership between Silver Creek Vitality and North Carolina developer Pine Gate Renewables, will oversee the event of the undertaking and can help the engineering, procurement and building providers.
“Silver Pine Vitality may be very happy to be part of the Inexperienced Supply Benefit program,” stated Silver Pine President Ben Catt. “We’re grateful to companion with Duke Vitality and Bank of America for this undertaking, and excited to proceed to do our half to carry extra renewable power on-line in North Carolina by way of revolutionary and thrilling packages similar to GSA.”
Duke Vitality’s GSA program has 600 MW of capability for giant Duke Vitality prospects in North Carolina. Cities – like the town of Charlotte – are additionally eligible to take part.
Duke Vitality maintains greater than 3,300 MW of solar energy on its power grid in North Carolina, which might energy about 700,000 dwelling and companies at peak output. The corporate additionally operates 40 photo voltaic services within the state. North Carolina at present ranks No. 2 within the nation for total solar energy.
The Inexperienced Supply Benefit program is an outgrowth of 2017’s landmark photo voltaic laws in North Carolina. Different packages similar to photo voltaic rebates for purchasers and photo voltaic leasing had been additionally a part of that laws. Duke Vitality piloted this system, referred to as the Inexperienced Supply Tariff, in 2015.
Be taught extra Be taught extra about Bank of America’s dedication to the surroundings and its environmental operations focus.
Be taught extra about Duke Vitality’s GSA program and its renewable power dedication.
Be taught extra about Silver Pine Vitality.
Duke EnergyDuke Vitality (NYSE: DUK), a Fortune 150 firm headquartered in Charlotte, N.C., is likely one of the largest power holding firms within the U.S. It employs 30,000 folks and has an electrical producing capability of 51,000 megawatts by way of its regulated utilities, and three,000 megawatts by way of its nonregulated Duke Vitality Renewables unit.
Duke Vitality is reworking its prospects’ expertise, modernizing the power grid, producing cleaner power and increasing pure gasoline infrastructure to create a wiser power future for the folks and communities it serves. The Electrical Utilities and Infrastructure unit’s regulated utilities serve roughly 7.7 million retail electrical prospects in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Fuel Utilities and Infrastructure unit distributes pure gasoline to greater than 1.6 million prospects in 5 states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Vitality Renewables unit operates wind and photo voltaic technology services throughout the U.S., in addition to power storage and microgrid initiatives.
Silver Pine EnergySilver Pine is a three way partnership partnership between Silver Creek Vitality and Pine Gate Renewables. Silver Pine is actively creating dozens of initiatives throughout the southeast and past. The collective partnership combines to supply trade main capabilities as a developer, financier, EPC, and operator of photo voltaic initiatives in america. Silver Pine at present oversees the development and operation of 200 MWs of photo voltaic initiatives within the southeast and is actively creating over 1GW of photo voltaic throughout the nation.
Bank of AmericaAt Bank of America, we’re guided by a typical objective to assist make monetary lives higher, by way of the ability of each connection. We’re delivering on this by way of accountable development with a concentrate on our environmental, social and governance (ESG) management. ESG is embedded throughout our eight traces of enterprise and displays how we assist gas the worldwide financial system, construct belief and credibility, and symbolize an organization that folks need to work for, spend money on and do enterprise with. It is demonstrated within the inclusive and supportive office we create for our staff, the accountable services and products we provide our shoppers, and the impression we make all over the world in serving to native economies thrive. An necessary a part of this work is forming robust partnerships with nonprofits and advocacy teams, similar to neighborhood, shopper and environmental organizations, to carry collectively our collective networks and experience to attain better impression. Be taught extra at about.bankofamerica.com, and join with us on Twitter (@BofA_News).
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Reporters May Contact:Kelly Sapp, Bank of America, 1.980.214.3070[email protected]
Randy Wheeless, Duke Vitality, 1.800.559.3853[email protected]
SOURCE Duke Vitality; Bank of America
Associated Hyperlinks https://www.duke-energy.com/