W. L. Gore & Associates (Gore) today (June 4) announced a 55-megawatt (MW) agreement with Constellation (NASDAQ: CEG) to purchase zero-emission, renewable energy equivalent to the annual electricity use of its Maryland and Delaware facilities. This project contributes to the growth of renewable energy generation within the PJM grid, where many of Gore's manufacturing plants are located.
Through a 20-year agreement, Gore will receive energy and renewable energy certificates (RECs) from Pine Gate Renewables' Glover Creek Solar Project in Metcalfe County, Kentucky. This is made possible by a long-term agreement between Constellation and Glover Creek Solar under which Constellation will purchase energy and RECs generated by the project. Construction of the solar project is in its final phase, and the project is anticipated to start commercial operation in 2024.
Gore will procure approximately 110,000 MWh hours of energy per year from Glover Creek Solar, which is expected to help the company reduce its carbon footprint by nearly 33,000 metric tons annually. This is the emissions equivalent of nearly 7,600 gasoline-powered passenger vehicles driven for one year, according to U.S. EPA greenhouse gas equivalencies.
"At Gore, we believe that sustainability is not merely an objective but an inherent responsibility. Our commitment to a more environmentally conscious future influences every aspect of our decision-making process, including our ambitious pursuit of sourcing 100% of the electricity for our manufacturing facilities from renewable sources," said Bernhard Kiehl, Gore's enterprise sustainability leader. "Our commitment to sustainability isn't just about adopting solar energy; it's about embracing a future where clean renewable resources drive our operations."
Gore will use the Constellation Offsite Renewables (CORe) product to facilitate its renewable energy transaction. CORe connects customers to the economic and sustainability benefits of large-scale offsite renewable energy projects and is among Constellation's suite of retail power products that help customers achieve their carbon reduction goals. Constellation also offers customers a locally produced hourly carbon-free matching solution, which matches power in the hours it is being used.
"Through this long-term agreement, Gore is demonstrating its commitment to combatting the climate crisis while supporting the development of a new-build renewable asset," said Jim McHugh, chief commercial officer, Constellation. "We're pleased to support Gore in its sustainability journey and to offer a zero-emissions energy solution that advances their carbon reduction goals."
"Continued collaboration with Constellation allows Pine Gate to forge relationships with innovative companies that share our mission to generate The Power of Tomorrow ," said Dave Groleau, senior vice president of strategy and origination for Pine Gate Renewables. "We're proud that our Glover Creek solar project will provide Gore with clean energy to meet their sustainability goals."
About Gore
W. L. Gore & Associates is a global materials science company dedicated to transforming industries and improving lives. Since 1958, Gore has solved complex technical challenges in demanding environments from outer space to the world's highest peaks to the inner workings of the human body. With more than 13,000 Associates and a strong, team-oriented culture, Gore generates annual revenues of $4.8 billion.
About Constellation
A Fortune 200 company headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation's largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90% carbon-free, our hydro, wind and solar facilities paired with the nation's largest nuclear fleet have the generating capacity to power the equivalent of 16 million homes, providing about 10% of the nation's clean energy. We are further accelerating the nation's transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100% carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on LinkedIn and Twitter.
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David Marcheskie
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