Citi to Power Data Center in Roanoke, TX with Clean, Renewable Energy
January 10 2017 - 9:49AM
Business Wire
Landmark transaction is part of Citi’s
Sustainable Progress strategy
Citi has entered into a new contract to purchase clean,
renewable energy for a multi-year term at its Roanoke, TX, data
center. The contract will provide Green-e certified renewable
energy for 50 percent of the data center’s power needs. This deal
marked the first collaboration between Citi Realty Services
(CRS), an internal unit responsible for the company’s facilities,
and the Citi subsidiary -- Citigroup Energy Inc. (CEI) -- to meet
its renewable energy needs. CRS and CEI worked with MP2 Energy, a
Retail Electricity Provider with experience integrating sustainable
solutions, to arrive at a structure that allowed Citi to fix its
retail rate and utilize renewable power at an attractive price
level.
“This deal will provide a renewable source of energy as well as
price certainty to one of our key data centers,” said John Killey,
Global Head of Operations for CRS. “It also demonstrates the value
that comes from the close collaboration between CRS and Citigroup
Energy and Citi’s commitment to sustainability across its own
operations as part of its Sustainable Progress strategy.”
The contract takes into consideration the forecasted hourly
energy consumption for the facility, which is comprised of a data
center and service building.
In connection with the transaction, Matthew Adams, president of
MP2, added, “MP2 is pleased to leverage our experience integrating
retail energy products with renewable power sources to deliver a
sustainable solution for Citi.”
“In this landmark renewable energy deal, we were able to work
together to ensure that the various risks inherent in commodity
markets are allocated based on which entity is best positioned to
manage each one,” said Roxana Popovici, a managing director
responsible for renewable power transactions within CEI. “As
companies like Citi look to ramp up their purchase of renewable
energy, structures like the one employed in this transaction will
become increasingly important and will be critical to scaling the
market for renewable energy.”
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
CRS is a division of Citi responsible for providing real estate
support services to all Citi businesses. Citigroup Energy Inc. is
one of the leading participants in the energy market
today. Energy Risk Magazine has recognized CEI as Electricity
House of the Year for the past two consecutive years, Emissions
House of the Year in 2016 and Derivatives House of the Year for the
past three consecutive years. A particular strength of CEI’s
platform is in the renewable power market, where a large number of
long-term transactions with projects, corporates and retail
entities in recent years have made CEI a leading counterparty in
that space. CEI’s level of client activity provides strong insight
into current and future market dynamics, and allows it to offer a
deep level of liquidity as well as wide range of risk mitigating
structures at competitive price levels.
Additional information may be found at http://www.citigroup.com
| Twitter: @Citi | YouTube: http://www.youtube.com/citi | Blog:
http://blog.citigroup.com/| Facebook: http://www.facebook.com/citi
| LinkedIn: www.linkedin.com/company/citi.
ABOUT MP2
MP2 Energy is a full service power company, serving
approximately 1,400 MW to commercial, industrial and residential
customers in Texas, Illinois, Pennsylvania and Ohio. The company
integrates capabilities across its core services from plant
development, plant management, demand response, and retail electric
supply to the end-use customer. The company handles all other
aspects of power markets, such as asset management, commodity
hedging, solar installation and offtake, wind and distributed
generation, and solar retail products for residential customers in
Texas.
MP2 was recently recognized on DNV GL’s Channel Partner Market
survey for customer satisfaction and ease of doing business, and
ranked No. 1 in overall satisfaction on ERCG’s National ABC Broker
Survey. In 2014, the company was honored with The Energy
Professionals Association’s inaugural Supplier of the Year award.
For more information, visit www.MP2energy.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170110005854/en/
Media:CitiScott Helfman, +1 212-816-9241
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