Ørsted Signs Power Purchase Agreement with a US Bank
Citizens Financial Group, Inc.
Ørsted has entered into a power purchase agreement with US bank Citizens, which will support the construction of the 200 MW Sunflower Wind Project, an onshore wind farm based in Marion County, Kansas.
The agreement will match 100% of Citizens’ power consumption across its entire operational footprint with renewable energy credits.
Ørsted began construction of the Sunflower Wind Project in 2022 and by 2023 it is expected to generate enough electricity to power approximately 96,000 homes annually. Citizens’ share of the project is 25.8 MWs. Citizens said it is making a long-term commitment to buying a share of the renewable electricity produced by the wind project.
The electricity generated will be delivered to and resold in the local electricity grid while Citizens utilises the associated renewable energy credits (RECs) to achieve 100% renewable power.
“The Sunflower Wind Project marks an important milestone for Citizens as we continue our journey to support a more sustainable future alongside our customers, colleagues, shareholders and communities,” said Beth Johnson, chief experience officer and head of ESG at Citizens.
“We’re proud that this project will bring more renewable energy into the power grid and stimulate the local economy.”
Ben Pratt, Senior Vice President of Markets & Revenue at Ørsted said his company was pleased to include Citizens as a new customer and that they are looking forward to helping Citizens achieve their renewable electricity goals for “many years to come.”
Citizens was assisted in the execution of the power purchase agreement by Schneider Electric’s Sustainability Business and DLA Piper’s Energy and Natural Resources Group.