The RECs were purchased on behalf of a number of corporate buyers, including Atlassian, Arrow Electronics, Autodesk, Brooks Running, Compose[d], Medallia, Trimble, and more.
“Our ability to fractionalise participation opens access to all companies wanting to have impact in the energy transition” said Cris Eugster, CEO and Co-Founder of Ever.green.
Ever.green helps companies accelerate the energy transition through the purchase of high-impact RECs, which helps bring new clean energy projects online by increasing the long-term financial viability of the projects in a material way.
The RECs contribute to the buyer’s corporate sustainability goals, in that they reduce Scope 2 emissions from the electricity used by these companies to run their businesses. All Ever.green RECs are purchased through long-term contracts, in line with GHG practices, and connected to new or repowered projects which are examined closely for their impact on the climate, land, wildlife, and community. These long-term contracts are accessible to companies of all sizes, including those purchasing as few as 1,000 RECs per year (one REC equals one MWh of electricity), equivalent to the average consumption of 100 homes.
“Brooks recognises the importance of aligning efforts across every level of business to reduce GHG emissions and invest in renewable energy” added Dave Kemp, Director of Corporate Responsibility at Brooks Running. “Purchasing renewable energy certificates is a critical strategy to achieve our Scope 2 greenhouse gas emissions reduction target. Our partnership with Ever.green and Brooks’ investment in the Clearway Energy project will deliver a clear and immediate impact on climate change and is an important milestone in our Climate Action journey.”
The Ocotillo wind farm began its original commercial operations in 2008. Clearway completed the partial repower in 2023 to extend the life of the renewable asset while leveraging existing infrastructure and continuing to capitalise on the proven wind resource at the site.
Corporate energy buyers have long played a critical role in accelerating the energy transition through the purchase of bundled power and RECs via Power Purchase Agreements (PPAs) and Virtual Power Purchase Agreements (VPPAs). Unfortunately, both of these options are often out of reach for buyers with lower Scope 2 emissions loads, who are only looking to purchase a fraction of the renewable attributes from larger renewable energy projects. Of nearly 309,000 companies that bought RECs in 2021, only 613 of them did so through bundled PPAs and VPPAs.
“We’re proud to be a part of this project and invest in clean, renewable energy sources that will help to create a lasting, positive impact on the environment” said Nichole Wiley-Marks, vice president of global real estate and sustainability for Arrow.
In addition to keeping a critical renewable energy source online, which is expected to generate enough electricity each year to power more than 19,000 homes for another decade, the Ocotillo repower offers additional environmental and community benefits, including materials and infrastructure reuse, minimal land-use and wildlife impact. The partial repower is expected to also provide an additional $2 million in property taxes to Howard County and continued landowner lease payments for the extended life of the project.
In 2023, Ever.green announced a partnership with Baker Tilly, a top ten tax advisory and assurance firm, to launch the first digital marketplace for clean energy tax credits. This move gives corporate buyers the ability to pair REC purchases with tax credits, thus increasing buying impact and reducing costs.
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