The firm announces the purchase of Renewable Energy Certificates to match nearly all of its expected energy use across its DC area portfolio
The Meridian Group announced today that it has procured renewable energy for nearly its entire DC metro area portfolio.
The real estate and development firm, based in Bethesda, Md., signed a contract with Constellation to purchase Renewable Energy Certificates (RECs) to match almost all of its electricity use in 2022. The RECs supplied by Constellation are Green-e® Energy certified and sourced from wind and/or solar energy generators located in the lower 48 states.
“As America’s leading clean energy producer, Constellation lauds The Meridian Group’s choice of renewable energy, which helps reduce pollution and demonstrates a commitment to the environment,” said Daniel J. Verbanac, Senior Vice President, Retail for Constellation.
The Meridian Group is expected to reduce greenhouse gas emissions associated with its energy use by more than 19,000 metric tons each year, equivalent to emissions from more than 4,100 passenger vehicles driven for one year, according to U.S. Environmental Protection Agency estimates.
“We are proud to be leaders in taking proactive measures to reduce our environmental footprint,” said Stacy Lautar, Senior Vice President and Director of Property Management for the Meridian Group. “These efforts are more important than ever, so we will continue finding new ways to contribute to a sustainable future.”
RECs are used as an instrument to track wind, solar, moving water and other renewable energy sources as they are generated and delivered through the grid. Once in the grid, this green energy combines with other non-renewable sources of electricity. RECs act as an accounting mechanism to show how much of that energy is from green sources.
Under its contract with Constellation, Meridian has purchased RECs for all but two of its buildings, with plans to buy RECs for the remaining two buildings by 2024. Each REC retired represents the positive environmental attributes of one megawatt hour (MWh) of electricity created by a renewable generator.
Through the purchase of RECs, Meridian is supporting the operation and development of facilities that generate clean, renewable energy. The firm is also active in creating more energy-efficient spaces to conserve resources.
“At Meridian, we care deeply about our tenants, our communities and our planet,” Lautar said.
ABOUT THE MERIDIAN GROUP
The Meridian Group is a real estate investment and development firm based in Bethesda, Md. Since its inception in 1993, the firm has acquired and developed more than 14 million square feet of office, residential, hotel, mixed-use, and land with a focus on the metropolitan Washington, DC market. To learn more, visit The Meridian Group’s website at www.tmgdc.com.
Constellation is the nation’s largest producer of carbon-free energy and the leading competitive retail supplier of power and energy products and services for homes and businesses across the United States. Headquartered in Baltimore, its generation fleet powers more than 20 million homes and businesses and is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is 90 percent carbon-free. Constellation has set a goal to eliminate 100 percent of its greenhouse gas emissions by 2040 by leveraging innovative technology and enhancing its diverse mix of hydro, wind and solar resources paired with the nation’s largest carbon-free nuclear fleet. Constellation’s family of retail businesses serves approximately 2 million residential, public sector and business customers, including three-fourths of the Fortune 100. Learn more at constellation.com.
ABOUT GREEN-E ENERGY
Green-e® Energy certifies that renewable energy certificates meet the minimum environmental and consumer protection standards established by the non-profit Center for Resource Solutions. For more information on Green-e® Energy certification requirements, call 1-888-63-GREEN or log on to green-e.org.