NEWARK AND HOUSTON, Dec. 01, 2021 (GLOBE NEWSWIRE) -- New Jersey Institute of Technology (NJIT) and a subsidiary of ENGIE North America, announced today that the university will purchase renewable energy from a portfolio of hydropower facilities equal to nearly 100% of its forecasted electricity consumption. This agreement achieves one of the strongest commitments for renewable power procurement in a retail energy purchase.
"NJIT’s commitment to sustainability is a main pillar of our strategic plan," said Andrew P. Christ, senior vice president Real Estate Development and Capital Operations. "Through the procurement of energy from sustainable resources, the university will reduce its carbon footprint as part of its orientation to integrate sustainability into our community’s daily life."
ENGIE Resources and Premier Energy Group jointly designed a unique solution that will help NJIT achieve its pursuit of and progress toward making sustainability an institutional learning goal embedded throughout the campus experience and academic curriculum.
For 2022, NJIT shall purchase approximately 43,800 megawatt-hours of supply of renewable, clean generation from the Smoky Mountain Hydropower portfolio located along the North Carolina-Tennessee border. The hydropower portfolio is owned and operated by New York-based Brookfield Renewable U.S.
The agreement includes the purchase of an equivalent number of Renewable Energy Certificates (RECs) from the Smoky Mountain Hydropower portfolio. By investing in RECs, NJIT is helping increase demand for renewable energy, encouraging the development of new renewable energy projects, and providing generator owners with additional revenue that goes beyond selling the facility’s electricity.
The renewable energy in this agreement avoids more than 31,000 metric tons of CO2 emissions over the span of the contract, which represents the equivalent carbon capture of over 38,000 acres of forest.*
The renewable energy deal is part of a larger sustainability campaign at NJIT that reduces energy and mitigates waste through efforts such as a future expansion of on-campus renewable energy generation through the installation of a 500 kW solar panel field on the Wellness and Events Center and a university-wide food composting program.
"Hydropower is clean and affordable. It’s the world’s largest source of renewable electricity generation, and the only energy source that creates recreational opportunities," said Sayun Sukduang, Chief Executive Officer at ENGIE Resources. "NJIT is a perfect partner to help promote sustainability through the next generation of leaders."
The Smoky Mountain Hydropower portfolio consists of four hydropower facilities located along the Little Tennessee and Cheoah rivers in Tennessee and North Carolina, with a total installed capacity of 375 megawatts. The facilities are certified by the Low Impact Hydropower Institute in recognition of the suite of stringent science-based environmental protection standards and social and cultural criteria that the generators meet.
*EPA Greenhouse Gas Equivalencies Calculator
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About NJIT
One of only 35 polytechnic universities in the United States, New Jersey Institute of Technology (NJIT) is a top-tier research university that spurs economic growth and prepares students to become leaders in the technology-dependent economy of the 21st century. NJIT is one of only 131 universities rated an “R1” research university by the Carnegie Classification®, which indicates the highest level of research activity. NJIT conducts more than $155 million in research activity each year and has a $2.8 billion annual economic impact on the State of New Jersey. Ranked No. 1 nationally by Forbes for the upward economic mobility of its lowest-income students, NJIT also is ranked in the top 2% of colleges and universities nationally for the mid-career earnings of graduates, according to PayScale.com. NJIT is ranked No. 39 nationally by The Princeton Review as a Best Value College and is rated among the top 50 public colleges and universities nationwide by U.S. News & World Report.
About ENGIE North America
ENGIE North America Inc. offers a range of capabilities in the United States and Canada to help customers decarbonize, decentralize and digitalize their operations. These include comprehensive services to help customers run their facilities more efficiently and optimize energy and other resource use and expense; clean power generation; energy storage; and retail energy supply that includes renewable, demand response, and on-bill financing options. Nearly 100% of the company’s power generation portfolio is low carbon or renewable. Globally, ENGIE S.A. is a global reference in low-carbon energy and services, that relies on their key businesses (gas, renewable energy, services) to offer competitive solutions to customers. With 170,000 employees, customers, partners and stakeholders, the group is committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions.
About Premier Energy Group
Premier Energy Group, LLC is a leading energy consulting and brokering company with headquarters in Middlesex, New Jersey. Services include energy procurement and energy management for commercial and industrial customers throughout the United States, with a primary focus on the Northeast and mid-Atlantic regions. With extensive experience in the utility and deregulated energy industry, Premier Energy provides customized energy management strategies. For more information, visit www.premiereenergygroup.com.
About Brookfield Renewables U.S.
Brookfield Renewable U.S., based in New York City, is a leading owner, operator and developer of renewable power, delivering innovative renewable power solutions that accelerate the world towards a sustainable, low-carbon future. Our diversified portfolio of hydropower, wind, solar and storage facilities extends across 34 states, totaling approximately 8,050 megawatts of generating capacity. Brookfield Renewable U.S.’s generating, trading and marketing businesses are a part of Toronto-based Brookfield Renewable Partners L.P., (NYSE: BEP; TSX: BEP.UN), one of the world’s largest publicly traded, renewable power platforms.
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