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Rivian signs wind energy deal with Apex to power Illinois plant operations By Investing.com



© Reuters. Rivian (RIVN) signs wind energy agreement with Apex to power Illinois plant operations

By Michael Elkins

American electric vehicle manufacturer, Rivian car (NASDAQ:) announced today that it has entered into a power purchase agreement (PPA) with Apex Clean Energy for 50 megawatts (MW) of electricity from the renewable energy company’s proposed Goose Creek wind farm in Piatt County in Piatt County. , Illinois.

As Rivian’s first large-scale procurement, this agreement supports the company’s long-term vision to support high-impact renewable energy projects that reduce carbon emissions while delivering benefits to customers, communities and the grid.

Mr. Andrew Peterman said: “About a third of global greenhouse gas emissions come from transportation, almost another third from electricity generation. At Rivian, we have a tremendous opportunity to help tackle it. off-exhaust emissions to support decarbonization in the production and charging of electric vehicles.” , Director of Rivian Renewable Energy. “Long-term success for us means helping accelerate the transition to carbon-free energy across the entire economy, not just within Rivian alone.”

This purchase, along with other renewable sourcing and on-site manufacturing, will allow Rivian to power up to 75% of its Normal, Illinois plant operations with on-premises carbon-free energy hourly office.

“With Goose Creek Wind, Rivian is modeling an innovative approach to clean energy procurement—one that emphasizes maximum benefit to the community,” said Mark Goodwin, Apex President and CEO. communities, the local economy and environment”. “Apex continues to expand opportunities for corporations committed to strengthening local project areas, reducing carbon impacts, and restoring natural habitats—all priorities for Rivian as it continues to build vision for the future.”

Apex is currently in the process of obtaining local permits and approvals to build the 300 MW Goose Creek Project and comply with PPA regulations. The project is expected to begin operations in 2024.

Shares of RIVN fell 3.14% in midday trading on Monday.

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