Iron Mountain Incorporated (NYSE: IRM), the global leader in storage and information management services, announced an expansion of its commitment to renewable energy through new energy transactions in Texas and Illinois. RPD Energy (RPD), a national leader in green energy solutions, structured the deals that provide Iron Mountain with access to 100 percent renewable power for its facilities in both states.
RPD’s flexible, variable energy solutions complement Iron Mountain’s overall mix of purchasing strategies, which include traditional power purchase agreements (PPAs) and on-site projects. The Texas and Illinois transactions amount to over 25,000 MWh of green energy per year over the next three years. This is enough to power more than 3,000 homes annually, and adds to the amount of direct, physical energy in Iron Mountain’s overall energy portfolio supported by renewable sources.
“With these transactions, Iron Mountain continues to follow through on our commitment to renewable energy by using new models that are both cost-effective and simple to implement throughout our real estate portfolio,” said Chris Pennington, CBRE Energy Manager for Iron Mountain.
RPD provided access to competitively-priced physical renewable power, without the long-term commitment and complexity associated with PPA or VPPAs. The retail contracts for Texas and Illinois are managed by Direct Energy, with renewable power supplied by a subsidiary of NextEra Energy Resources from its Blue Summit Wind Farm in Wilbarger County, Texas, as well as other NextEra Energy Resources facilities.
“By working with Direct Energy and NextEra Energy Resources, RPD was able to deliver an innovative renewable energy solution for Iron Mountain. The final product has the simplicity of a standard retail contract coupled with the benefits of access to locally-sourced physical energy and RECs,” said Eric Alam, CEO of RPD Energy. “These transactions provide another example of how RPD brings together the pieces of the wholesale and retail green energy puzzle for forward-thinking companies like Iron Mountain.”
Iron Mountain I http://www.ironmountain.com
RPD Energy | http://www.rpdenergy.com