Constellation and Enel Green Power Sign Energy Deal with Starbucks
CHICAGO--(BUSINESS WIRE)--Nov 28, 2018--Constellation, an Exelon (NYSE:EXC) company and the nation’s leading competitive energy provider, has signed a long-term agreement with Starbucks to power more than 340 company-operated Illinois stores with 100 percent renewable energy produced by Enel Green Power (EGP) North America, Inc.’s HillTopper wind project in Logan County, Ill. The deal is made possible by a separate long-term agreement between Enel and Constellation under which Constellation will purchase a 14-megawatt 1 portion of the energy generated by HillTopper.
“It’s exciting to see Starbucks continue its commitment to play a role in the growth of renewable energy markets,” said Rebecca Zimmer, director of global environmental impact for Starbucks. “We are identifying and investing in new green power projects that are close to our retail communities and give our store partners a story they can be proud of.”
The agreements reinforce Starbucks’ commitment to greening its operations through energy and water conservation measures and advancing renewable energy sources through its purchasing practices and will enable Starbucks to support the generation of approximately 48,000 megawatt-hours of wind power from EGP’s HillTopper wind project, enough to brew nearly 100 million cups of coffee, or more than seven cups of coffee for every Illinois resident. It will deliver an annual environmental benefit equivalent to removing nearly 8,000 passenger vehicles from the road.
“Constellation is dedicated to providing clean energy solutions that help our customers meet their environmental goals,” said Mark Huston, president of Constellation’s national retail business. “Starbucks is among the nation’s top purchasers of renewable electricity and it is fitting that they chose Constellation to sustainably power hundreds of their Illinois locations.”
The agreement leverages the Constellation Offsite Renewables (CORe) offering, which increases access to renewable energy for commercial and industrial customers, enabling Starbucks to contribute to the development of HillTopper in Illinois, where the stores are located.
“An increasing number of commercial and industrial customers are choosing renewables as a competitive and clean way to meet their energy needs and they look for customized solutions addressing their specific energy profile,” said Georgios Papadimitriou, head of Enel Green Power North America. “The agreement with Constellation is an example of an innovative approach we are taking to meet the needs of these commercial and industrial customers to enable them to achieve their sustainability targets in a cost-effective way.”
The HillTopper wind farm, is expected to enter into service by the end of 2018. The facility will have a total capacity of 185 megawatts and, once fully operational, will be able to generate around 570 gigawatt-hours of electricity annually. Investment in the construction of HillTopper amounts to approximately $325 million.
Edison Energy provided renewable energy market access, project due diligence and customer education to support the transaction process.
Constellation is a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation’s family of retail businesses serves approximately 2 million residential, public sector and business customers, including more than two-thirds of the Fortune 100. Baltimore-based Constellation is a subsidiary of Exelon Corporation (NYSE:EXC), the nation’s leading competitive energy provider, with 2017 revenues of approximately $33.5 billion, and more than 32,000 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. Learn more at www.constellation.com or on Twitter at @ConstellationEG.
About Enel Green Power North America
Enel Green Power North America, part of Enel Green Power, the Renewable Energies business line of the Enel Group, is a leading owner and operator of renewable energy plants in North America with projects operating and under development in 24 US states and two Canadian provinces. In North America, the company operates around 100 plants with a managed capacity exceeding 4.3 GW powered by renewable hydropower, wind, geothermal and solar energy. In 2017, the company was the fastest growing renewable energy company in the US, bringing approximately 1.2 GW of capacity online. The company is currently the largest wind operator in Kansas and Oklahoma.
Enel Green Power is dedicated to the development and operation of renewables across the world, with a presence in Europe, the Americas, Asia, Africa and Oceania. Enel Green Power is a global leader in the green energy sector with a managed capacity of around 42 GW across a generation mix that includes wind, solar, geothermal, biomass and hydropower, and is at the forefront of integrating innovative technologies into renewable power plants.
About Exelon Corporation
Exelon Corporation (NYSE:EXC) is a Fortune 100 energy company with the largest number of utility customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2017 revenue of $33.5 billion. Exelon’s six utilities deliver electricity and natural gas to approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 32,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including more than two- thirds of the Fortune 100. Follow Exelon on Twitter @Exelon.
1 This energy will then be sold to Starbucks under a separate agreement with Constellation.
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PUB: 11/28/2018 09:00 AM/DISC: 11/28/2018 09:01 AM