Wind park in the US. Author: CGP Grey. License: Creative Commons, Attribution 2.0 Generic.
Goldman Sachs (NYSE:GS) has struck a long-term power purchase agreement (PPA) with a unit of NextEra Energy Resources LLC for the output of a 68-MW wind farm in Pennsylvania.
The contract will facilitate the investment in and development of the wind project, expected to open up to 150 construction jobs, the finance group said on Tuesday. “By enabling this new wind project to come online, the agreement will help grow the renewable grid and contribute to the momentum behind a lower carbon economy,” said Goldman Sach’s chairman and CEO Lloyd C Blankfein.
The planned wind power facility is also seen to offset more than 200,000 tonnes of carbon dioxide (CO2) emissions each year, once operational.
The PPA represents a collaborative effort between Goldman Sachs’ commodities trading group J Aron, which was mandated to serve as an intermediary for the project, and its corporate services and real estate department. It is in line with Goldman Sach’s commitment to supply 100% of its electricity consumption from renewables.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.