RENEWABLE POWER DIRECT SOURCES WIND ENERGY FOR IRON MOUNTAIN
HOUSTON & BOSTON - JANUARY 25TH, 2017
Renewable Power Direct (RPD), the national green power marketer, today announced it has signed Iron Mountain Incorporated (NYSE: IRM), the global leader in storage and information management services, to a new power supply agreement to fulfill a portion of the electrical load for Iron Mountain’s Texas operations. The power will be sourced from NextEra Energy and its Blue Summit wind farm outside of Vernon, Texas.
RPD developed a unique product structure for Iron Mountain that combines the benefits of green power with a structured indexed pricing product to reduce their exposure to market volatility. Additionally, this product structure provides a rigorous chain of custody and ease of contracting in verifying the purchase and use of this energy source, enabling Iron Mountain to clearly and accurately report its usage of renewable energy. This represents the second green energy supply agreement arranged by RPD for Iron Mountain, following a separate agreement arranged by RPD for its New Jersey and Pennsylvania operations earlier this year.
“RPD's contracts are a great complement to our longer-term power purchase agreements,” said Kevin Hagen, director of Corporate Responsibility for Iron Mountain. “A big barrier to purchasing renewable energy for many companies has been the complexity of the deals. With this contract, RPD has crafted an offer that we can execute alongside our other deregulated market transactions. We’re pleased with the ease of contracting and with the results RPD has provided for us in meeting our financial and operational goals for our sustainability program.”
“We are very excited that Iron Mountain continues to utilize RPD’s medium-term energy purchasing option as part of their overall renewable energy strategy,” said RPD’s Vice-President of Sales, Mark Mancino.
ABOUT IRON MOUNTAIN
Iron Mountain Incorporated (NYSE: IRM) is the global leader for storage and information management services. Trusted by more than 220,000 organizations around the world, Iron Mountain’s real estate network comprises more than 85 million square feet across more than 1,400 facilities in 45 countries dedicated to protecting and preserving what matters most for its customers. Iron Mountain’s solutions portfolio includes records management , data management , document management , data centers, art storage and logistics, and secure shredding, helping organizations to lower storage costs, comply with regulations, recover from disaster, and better use their information. Founded in 1951, Iron Mountain stores and protects billions of information assets, including critical business documents, electronic information, medical data and cultural and historical artifacts. Visit www.ironmountain.com for more information.
ABOUT RENEWABLE POWER DIRECT, LLC
RPD is a unique U.S. renewable energy marketer serving corporate and industrial buyers. It is the only supplier offering variable term (2-7 year), fractional physical capacity (plus RECs) from utility-scale wind and solar facilities. Blocks of energy capacity may be purchased in 1 MW or greater increments. Fortune 500 energy buyers have chosen these contracts for green data centers, production facilities and corporate headquarters from California (CAISO) to Texas (ERCOT) to the Mid-Atlantic (PJM).
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