Foley Hoag Helps Forge Major Corporate Investments in Wind Power
Two 20-year Contracts with Wind Farms Reflect Increased Corporate Interest in Clean Energy
June 22, 2017
Reflecting increased corporate interest in clean energy, Foley Hoag LLP recently assisted its clients Partners HealthCare and Akamai Technologies, Inc. in separate transactions for the procurement of wind energy from wind farms under development in New Hampshire and Texas. Each agreement represents a 20-year commitment that will advance each company’s goals for renewable energy procurement and de-carbonizing energy consumption related to corporate operations.
“These agreements are indicative of increased corporate interest nationwide and regionally in renewable energy; they clearly demonstrate the fiscal and social advantages of making renewable energy part of company operations. Each of these clients has made a significant commitment that will result in the generation of clean energy from projects that may not have had the chance to be successful but for these commitments” said Foley Hoag Counsel Adam Wade, a member of the firm’s Energy and Cleantech practice group.
Partners HealthCare is Massachusetts’ largest health care network and a significant user of energy. Partners has made a long term commitment for energy produced by Antrim Wind Energy, a New Hampshire-based wind farm under development by Walden Green Energy. Partners has pledged to reduce its greenhouse gas emissions by 110 million pounds per year, with the final goal of solely utilizing renewable energy in its hospitals and facilities by 2025. The arrangement advances Partners’ strategic goals in reducing carbon emissions attributable to its electricity consumption and aligning its energy expenditures with its core mission of caring for the health of its patients and clients.
Akamai Technologies, the Massachusetts-based security and cloud delivery platform company, has agreed to source energy from the 80-megawatt Seymour Hills Wind Farm, a Texas wind farm owned by Infinity Renewables. This project is intended to offset Akamai’s aggregate Texas data center operations and aligns with the organization’s recently announced goal to utilize renewable energy in 50 percent of its global network operations by 2020.
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