Rivian and Apex will collaborate in Illinois
2022.12.05 11:55
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Rivian and Apex will collaborate in Illinois
Budrigannews.com- Rivian Automotive, an American manufacturer of electric vehicles (NASDAQ:) Today, they announced that they had signed a power purchase agreement (PPA) with Apex Clean Energy for the purchase of fifty megawatts (MW) of electricity from the proposed Goose Creek Wind farm in Piatt County, Illinois, by the renewable energy company.
The agreement, Rivian’s first large-scale purchase, supports the company’s long-term goal of enabling high-impact renewable energy projects that reduce the company’s carbon footprint and benefit customers, communities, and the electrical grid.
“Transportation accounts for about a third of global emissions of greenhouse gases, and the production of electricity accounts for nearly another third.” Andrew Peterman, Director of Renewable Energy at Rivian, stated,
“We have a tremendous opportunity at Rivian to help tackle emissions beyond the tailpipe to support decarbonization of manufacturing and charging of electric vehicles.” Our long-term success depends on our contribution to accelerating the transition to carbon-free energy throughout the economy, not just Rivian’s own footprint.”
Rivian will be able to use carbon-free energy to power up to 75% of its Normal, Illinois plant operations on an hourly basis thanks to this purchase as well as other renewable sources and on-site generation.
“With Goose Spring Wind, Rivian is demonstrating an imaginative way to deal with clean energy acquisition — one that underlines greatest advantage to the nearby local area, economy, and climate,” said Imprint Goodwin, President and Chief of Summit. “
As Rivian develops its future vision, Apex continues to expand opportunities for businesses committed to strengthening local project areas, lowering carbon emissions, and restoring natural habitat.
As a condition of the PPA, Apex is currently obtaining local permits and approvals for the construction of the 300 MW Goose Creek Project.In 2024, the project is expected to begin operation.
On Monday, RIVN shares are down 3.14 percent in midday trading.
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