Bank of America Expands Environmental Operations Commitment With Its First 10-Year Solar Electricity Agreement to Power Facil...
June 29 2020 - 1:05PM
Business Wire
Project Will Add New Solar Electricity Facility
in Texas
Bank of America announced today its first 10-year structured
renewable energy agreement for solar power in Texas. In partnership
with Reliant, an NRG Energy company, the deal will contribute to
Bank of America’s commitment to purchase 100% of electricity from
renewable sources and builds on the company’s carbon-neutral
efforts. The project will provide electricity through the Electric
Reliability Council of Texas (ERCOT) region to 345 facilities,
which include office sites, financial centers and ATMs. Bank of
America will receive both electricity and Green-e®-certified
renewable energy certificates (RECs).
“Supporting utility-scale solar energy projects like this builds
on our commitment to responsible growth and reduces our operational
impact on the environment,” said Andrew Plepler, global head of
Environmental, Social and Governance at Bank of America. “By
implementing new and innovative renewable energy structures, we
demonstrate our strong commitment to carbon neutrality, secure
stable renewable electricity at a favorable cost, and provide an
economic and environmental benefit to the communities where we work
and live.”
The agreement will supply 160,000 megawatt-hours (MWh) of
electricity to Bank of America’s Texas operations annually. The
project will be located in west central Texas and is expected to be
operational in mid-2022. In the interim, the bank’s Texas
facilities will receive electricity and Green-e®-certified RECs
from other renewable energy projects contracted by NRG.
“Partnering with Bank of America in support of its commitment to
carbon neutrality is one of the many ways NRG is putting customers
at the center of everything we do,” said Robert Gaudette, senior
vice president of Business Solutions at NRG. “Agreements like
these, which support renewable development and local communities,
reflect a modern approach to retail electricity and are an
important part of the transition to a sustainable electricity
future.”
Bank of America’s environmental operations commitment In
2019, the bank announced the installation of solar panels on more
than 60 locations in the U.S., including offices, financial centers
and ATMs. There are nine solar installations at bank facilities in
Texas.
Bank of America achieved carbon neutrality a year ahead of
schedule and has implemented other energy efficient and renewable
energy efforts. In 2019, the company’s total sourcing of renewable
electricity was more than two million MWh, amounting to 100% of its
global energy use – the equivalent of powering 239,000 homes for
one year. In 2019, Bank of America was recognized by the U.S.
Environmental Protection Agency with the EPA Green Power Leadership
EPA Green Power Leadership Award for Excellence in Green Power
Purchasing. The company was also named to the CDP Climate Change
A-List.
For more information on Bank of America’s environmental efforts,
visit www.bankofamerica.com/environment.
Bank of America At Bank of America, we’re guided by a common
purpose to help make financial lives better, through the power of
every connection. We’re delivering on this through responsible
growth with a focus on our environmental, social and governance
(ESG) leadership. ESG is embedded across our eight lines of
business and reflects how we help fuel the global economy, build
trust and credibility, and represent a company that people want to
work for, invest in and do business with. It’s demonstrated in the
inclusive and supportive workplace we create for our employees, the
responsible products and services we offer our clients, and the
impact we make around the world in helping local economies thrive.
An important part of this work is forming strong partnerships with
nonprofits and advocacy groups, such as community, consumer and
environmental organizations, to bring together our collective
networks and expertise to achieve greater impact. Learn more at
about.bankofamerica.com, and connect with us on Twitter
(@BofA_News).
NRG Energy At NRG, we’re bringing the power of energy to people
and organizations by putting customers at the center of everything
we do. We generate electricity and provide energy solutions and
natural gas to more than 3.7 million residential, small business,
and commercial and industrial customers through our diverse
portfolio of retail brands. A Fortune 500 company, operating in the
United States and Canada, NRG delivers innovative solutions while
advocating for competitive energy markets and customer choice, and
by working towards a sustainable energy future. More information is
available at www.nrg.com. Connect with NRG on Facebook, LinkedIn
and follow us on Twitter @nrgenergy, @nrginsight.
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version on businesswire.com: https://www.businesswire.com/news/home/20200629005653/en/
Reporters May Contact: Kelly Sapp, Bank of America,
1.980.214.3070 kelly.e.sapp@bofa.com Laura Avant, NRG,
1.713.537.5437 laura.avant@nrg.com
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