Watershed Customers Join Forces to Fund Five New Solar Plants in Michigan [Yahoo! Finance]
The Carlyle Group Inc. (CG)
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Source: Yahoo! Finance
SAN FRANCISCO, CA & LONDON, UK, June 13, 2024 (GLOBE NEWSWIRE) -- Today Watershed , the enterprise sustainability platform, announced eight of its customers contributed to the funding of five new solar plants in Michigan. These projects are expected to generate more than 110,000 MWh of clean energy annually, avoiding over 52,000 tonnes of carbon dioxide per year while lowering the emissions of participating companies. Last year, Michigan passed a bill committing to 100% renewable energy by 2040; currently, less than of Michigan's electricity is generated by solar power. Watershed customers including Block Braze DoorDash Match Group , and Unity are helping fund the Michigan projects through Watershed's fixed-price Virtual Power Purchase Agreement (VPPA). The projects will generate clean power and Renewable Energy Certificates (RECs), which are proof of the production of a unit of carbon-free electricity. The participating companies will use the RECs to reduce their emissions. “We
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