Chicago, May 23, 2023 — TransUnion (NYSE: TRU) today announced an 8.5 megawatt agreement with Constellation (NASDAQ: CEG) to purchase renewable energy equivalent to the annual electricity use of its Chicago headquarters, which will also reduce TransUnion’s emissions associated with purchased electricity (Scope 2 emissions).
Through a 12-year agreement beginning in April 2025, TransUnion will purchase energy and renewable energy certificates (RECs) generated by Swift Current Energy’s Double Black Diamond Solar Project in downstate Illinois. Peak construction of the solar project began in March 2023. TransUnion’s contract for the energy will begin in 2025.
In total, TransUnion will procure approximately 17,000 megawatt hours of energy per year from Double Black Diamond, which is expected to reduce the company’s carbon emissions associated with its Scope 2 emissions by over 8,000 metric tons annually compared to a location-based calculation. This is the equivalent emissions of nearly 1,800 gasoline-powered passenger vehicles driven for one year, according to U.S. EPA greenhouse gas equivalencies.
“The climate crisis remains a key global issue, and corporations must address the risks associated with the crisis with swift and purposeful action,” said Chris Cartwright, President and CEO, TransUnion. “TransUnion is committed to continuing to assess, identify and, where feasible, implement options to integrate environmental sustainability into our global business, and procuring renewable energy is an important step toward realizing our enterprise climate strategy.”
TransUnion plans to use the Constellation Offsite Renewables (CORe) product to facilitate its renewable energy transaction. CORe connects customers to the economic and sustainability benefits of large-scale, offsite renewable energy projects and is among Constellation’s suite of retail power products that help customers achieve their carbon reduction goals.
“TransUnion’s support of the Double Black Diamond new-build renewable asset shows their commitment to decarbonization,” said Jim McHugh, Chief Commercial Officer, Constellation. “We are pleased that our energy solutions can advance TransUnion’s carbon reduction goals and help them on their sustainability journey.”
In 2021, TransUnion set Scope 1 and 2 emissions reduction targets for the first time. Since then, the company has made significant reductions through its real estate consolidation and renewable energy purchases.
Eric Lammers, co-founder and CEO, Swift Current Energy, said, “As the developer and long-term owner of Double Black Diamond Solar, we are delighted that TransUnion’s Chicago headquarters will enjoy the benefits of carbon-free energy generated within the State of Illinois by the project. By purchasing power from the project, TransUnion is also supporting construction jobs in Illinois, as well as U.S. manufacturing jobs associated with the steel foundations, the tracker systems, and the solar modules. Double Black Diamond Solar will also provide long-term tax revenue for communities in the state.”
With an estimated total capacity of 800 MWdc (593 MWac), Swift Current Energy’s Double Black Diamond solar project will produce electricity sufficient to power the equivalent of more than 100,000 homes from its location in downstate Sangamon and Morgan counties.
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Oct 15, 2024
