Montclair State University recently announced a retail renewable energy agreement with ENGIE Resources LLC, a subsidiary of ENGIE North America Inc.
According to the terms of the contract, which extends through 2025, the university will purchase Green-e certified Renewable Energy Credits from wind, solar and hydro projects across the U.S.
Over the course of the agreement, the RECs purchased contribute to support CO2 emissions avoidance by more than 7,600 metric tons, while matching 100% of the university’s forecasted retail electricity consumption from the grid.
The agreement includes electricity supply in a structure that provides budget certainty throughout the term of the agreement.
“Montclair State University is committed to serving the public good by utilizing the latest in sustainable technologies and practices,” Vice President for University Facilities Shawn Connolly said. “This agreement allows us to further those efforts and do so in a way that will truly make an impact.”
“We are pleased to provide a retail energy solution that matches Montclair State University’s sustainability objectives,” Sayun Sukduang, CEO of ENGIE Resources, said. “As America’s ‘Energy Greentailer,’ we help colleges and universities to participate in the energy transition with supply options and ways to consume energy better.”
Montclair State University launched its Facilities Sustainability Plan in April 2022. The plan details 17 goals to move the university towards operational sustainability. The purchase of Green-e certified RECs will make significant progress for goal 01-5 which is focused on reducing, and eventually neutralizing, Scope 2 emissions.
Serving as adviser on the agreement is Newark-based Diversegy, a wholly owned subsidiary of Genie Energy. Diversegy is a leading retail energy brokerage serving customers across all deregulated U.S. markets.