Keystone Development + Investment (Keystone) has reached an 18-month agreement with ENGIE Resources for the purchase of energy from the Cambria wind farm in Cambria County, Pennsylvania and Renewable Energy Credits from unrelated sources.
Renewable Energy Credits (RECs) represent the environmental benefits of one MWh of renewable energy. Over the course of the agreement, the RECs purchased will reduce CO2 emissions by 11,875 metric tons.
“A carbon-neutral future is mission critical for tenants and at Keystone, we have made a conscious effort to increase our ESG initiatives in our buildings,” says Keystone President and COO Rich Gottlieb. “The Washington is a leading example of what we hope to achieve across our entire portfolio, and we’re thrilled to partner with ENGIE to achieve our collective goals.”
Industrial Energy (Wayne, PA) served as an advisor on the transaction. “We’re seeing growing interest in ways that end-users can participate in the zero-carbon transition and help support renewables,” Michael Amabile, president, said.