Renewable Power Direct (RPD), a national leader in providing innovative green energy solutions, has structured a fourth renewable electricity supply agreement for Iron Mountain Incorporated® (NYSE: IRM), the global leader in storage and information management services.
Under the agreement, Iron Mountain will add a new 5MW block of wind power to its Mid-Atlantic electricity supply from 2018 through 2020. This amount is equivalent to over 43,000 annual MWh – enough green energy to supply power to more than 4,000 homes for a year. The physical energy will be sourced from EDP Renewables North America’s Meadow Lake III Wind Farm, located in Indiana. EDPR will also be supplying renewable energy certificates (RECs) to support the transaction, verifying the delivery of that renewable energy back to the electricity grid.
The new supply deal arranged by RPD complements the mix of purchasing strategies, including traditional power purchase agreements (PPAs) and on-site projects, used by Iron Mountain to meet its corporate sustainability goals.
RPD’s innovative supply model allows Iron Mountain to replace a portion of its current electricity purchases with a new tranche of wholesale renewable energy while keeping its existing retail electricity agreement.
Mark Mancino, RPD’s vice president of sales, commented, “Layering in green power blocks to replace brown blocks provides a drop-in product for large customers, as well as providing a practical way to green almost any buyer’s electricity supply using a standard retail purchase contract.”
Mancino added, “This transaction is another example of how RPD brings together the pieces of the wholesale and retail energy puzzle for forward-thinking companies like Iron Mountain. With Iron Mountain’s sustainability leadership, we worked in concert with their retail supplier and energy consultant to develop and execute this renewable solution.”
“With this transaction, Iron Mountain continues to demonstrate that we can expand our commitment to renewable energy by using new models that are both simple to implement and cost effective,” said Chris Pennington, energy manager, Iron Mountain.