© Reuters. Rivian (RIVN) indications wind energy handle Apex to power Illinois plant operations
By Michael Elkins
American electrical lorry maker, Rivian Automotive (NASDAQ:) today revealed that they have actually signed a power purchase contract (PPA) with Apex Clean Energy for 50 megawatts (MW) of electrical energy from the renewable resource business’s proposed Goose Creek Wind farm in Piatt County, Illinois.
As Rivian’s initially massive procurement, the contract supports the business’s long-lasting vision of making it possible for high-impact renewable resource jobs that minimize its carbon footprint while likewise benefiting consumers, neighborhoods, and the electrical grid.
“About a third of global greenhouse gas emissions come from transportation, with nearly another third from electricity generation. We have a tremendous opportunity at Rivian to help tackle emissions beyond the tailpipe to support decarbonization of manufacturing and charging of electric vehicles,” stated Andrew Peterman, Rivian Director of Renewable Energy. “Long-term success for us means helping to accelerate the transition to carbon-free energy across the entire economy, not just within Rivian’s own footprint.”
This purchase, together with other eco-friendly sourcing and on-site generation, will permit Rivian to power as much as 75% of its Normal, Illinois, plant operations with carbon-free energy on an hourly basis.
“With Goose Creek Wind, Rivian is modeling an innovative approach to clean energy procurement—one that emphasizes maximum benefit to the local community, economy, and environment,” stated Mark Goodwin, President and CEO of Apex. “Apex continues to expand opportunities for corporations committed to strengthening local project areas, reducing carbon impact, and restoring natural habitat—all priorities for Rivian as it continues to build out its vision for the future.”
Apex is presently in the procedure of protecting regional authorizations and approvals for the 300 MW Goose Creek Project to be developed and as a terms of the PPA. The task is slated to start operations in 2024.
Shares of RIVN are down 3.14% in mid-day trading on Monday.