SOURCE: Comcast Corporation
DESCRIPTION:
PHILADELPHIA, April 7, 2022 /3BL Media/ - Comcast announced an agreement to purchase 250 megawatts (MW) of solar electricity from Constellation that will power approximately 12 percent of its U.S. operations and the vast majority of its Mid-Atlantic operations with clean, renewable energy.
The agreement will support construction of the Blue Sky Solar Project, currently being developed by Scout Clean Energy in Illinois, creating local jobs and bringing additional clean electricity to the U.S. power grid.
“This marks the first of many major green investments that are already underway or on the immediate horizon which demonstrate our commitment to sustainable, responsible business.” said Peter Kiriacoulacos, Executive Vice President and Chief Procurement Officer at Comcast.
Comcast is committed to being carbon neutral by 2035 for Scope 1 and 2 emissions, or the direct and indirect emissions it owns and controls, across its global operations. With purchased electricity accounting for the majority of these emissions, sourcing renewable energy is critical to meeting this goal.
Comcast’s renewable energy strategy will prioritize securing green tariffs, direct power purchase agreements (PPAs), and virtual PPAs through contracts that bring new renewable capacity to the grid. It will also include building onsite renewable energy capacity and supplementing electricity needs with purchases from existing clean energy projects or renewable energy certificates (RECs).
“We commend Comcast on its carbon neutral commitment and are pleased that our offsite renewable solution will serve as a significant steppingstone toward achieving that goal,” said Jim McHugh, Chief Commercial Officer, Constellation. “As our nation transitions to a clean energy future, Constellation is dedicated to offering the products, services and expertise that help our customers strategically manage their energy use and reduce their carbon footprints.”
Project Highlights:
- Comcast will source 250 MW of carbon-free solar electricity from the 300 MW Blue Sky project – a majority share of the project’s total output. Blue Sky is one of the largest solar projects approved to date in the PJM power grid, which spans the U.S. Mid-Atlantic region and portions of the Midwest, and Comcast is currently the sole customer.
- The agreement will allow Comcast to reduce the carbon dioxide emissions associated with its energy use by nearly 360,000 metric tons annually – equivalent to avoiding the emissions from more than 65,000 homes’ electricity use for a year.
- The project will create up to 400 construction jobs and 20 new local long-term jobs, and generate $36.3 million in tax revenue over the life of the project, including $25.4 million slated to go directly to local schools.
- Blue Sky is expected to reach commercial operation by December 2024. Comcast has signed a corresponding 15-year agreement with Constellation beginning in 2025 to receive energy and RECs from Blue Sky as part of its retail electric supply contract.
“We are pleased to work with Comcast and Constellation to deliver carbon-free solar energy and invest $400 million into the local community, creating new sustained jobs and tax revenue for local schools,” Michael Rucker, founder and CEO of Scout Clean Energy. “Comcast’s commitment made this possible.”
For more information on Comcast’s environmental efforts, visit the environment page on Comcast's Corporate website.
KEYWORDS: NASDAQ:CMCSA, NASDAQ:CMCSK, Comcast NBCUniversal, Carbon Neutral, solar electricity
