Foley Hoag Represents Akamai Technologies in Aggregated Power Purchase Agreement
March 30, 2021
Foley Hoag LLP represented Akamai Technologies, Inc. (Nasdaq: AKAM) in signing a power purchase agreement with Enel Green Power for the energy produced by an 18 MW portion of the Azure Sky wind project located in Texas. The agreement is part of an aggregation deal, which enables companies with smaller and more distributed energy needs, to leverage their collective buying power to purchase renewable energy. Akamai plans to use the energy generated by the wind project to run its intelligent edge network as efficiently as possible.
“We are encouraged by this agreement with Enel Green Power,” said Mike Mattera, Director of Corporate Sustainability at Akamai Technologies. “As a large-scale aggregation deal, this agreement clearly demonstrates the benefits of collaboration among businesses with smaller and more distributed energy needs.”
Cambridge, MA-based Akamai secures and delivers digital experiences for the world's largest companies. Its portfolio of edge security, web and mobile performance, enterprise access and video delivery solutions is supported by customer service, analytics and 24/7/365 monitoring. Akamai has led the way in innovative renewable energy projects since 2018, when it was a part of the United States' first corporate aggregated virtual power purchase agreement.
Foley Hoag attorney Adam Wade represented Akamai in the transaction.
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