Silver Spring, MD, April 22, 2021 (GLOBE NEWSWIRE) -- Competitive Power Ventures (CPV) commemorates Earth Day 2021 by underscoring the tremendous contributions their employees, partners and shareholders have made to address climate change. These contributions include the innovative approach to sustainability of repurposing brownfield sites, including former coal mines, to utility-scale renewable development. As of April 2021, the company has more than 400 MWs of renewable energy projects in advanced development within the PJM region on former coal mine sites — an economically and environmentally beneficial transition. The renewable projects, spread out across Pennsylvania and Maryland, will repurpose these sites that have limited alternative use and put them to productive use creating renewable energy while providing economic growth for host communities.
“By repurposing the sites of former coal mines, we can take land with limited ability to use and put it to work helping generate renewable energy critical to decarbonizing the electric sector by 2035,” said CPV CEO Gary Lambert. “In doing so, we can both reduce the need to disturb greenfield sites and help revitalize areas that have been impacted by the transition to cleaner energy sources.”
CPV is at the leading edge of developing, building and operating an energy grid that is both reliable and environmentally responsible. By replacing the “old” with new flexible and highly efficient load following resources and renewable power generation facilities, the company is nearing the milestone to have helped the U.S. avoid an estimated 21 million tons of carbon dioxide emissions — equivalent to taking 4.46 million cars off the road. The company has also helped avoid more than 31,000 tons of nitrogen oxide and 27,000 tons of sulfur dioxide emissions to date.
“Earth Day is the perfect time to think about our energy future,” said CPV Executive Vice President Sean Finnerty. “Companies like CPV are creating a roadmap for the rest of the country by showing how green development and power generation can help communities through the energy transition and go hand-in-hand with competitive wholesale energy markets without compromising system-wide reliability.”
CPV has set ambitious sustainability goals for 2021. These include avoiding 3 million tons of carbon dioxide emissions, recycling 2 billion gallons of grey water and generating at least 500,000 MWh of carbon-free electricity.
“Earth Day is not about just talk, it's about action,” said CPV Senior Vice President Tom Rumsey. “At CPV we're proud to have a strong track record of displacing older, higher emitting power generation with some of the most efficient natural gas and renewable facilities in the country. We deliver meaningful environmental improvements while enhancing grid reliability and reducing energy costs for consumers.”
About CPV
CPV Group LP (CPV), a subsidiary of OPC Energy Ltd., is uniquely positioned to leverage global technology and financial partnerships to help modernize America’s power generation. Together with our investors, partners, host communities and other key stakeholders, we are driven to improve our energy infrastructure by developing and operating power generation facilities using cutting edge, domestically available natural gas and renewable power technologies. Headquartered in Silver Spring, MD, with an office in Braintree, MA, the company has ownership interest in 5.5 GW of clean generation across the United States. The company’s Asset Management division currently manages 7.9 GW of fossil and renewable generating facilities in nine states for 11 different owner groups. Our focus on Environmental, Social and Governance (ESG) and sustained track record of success have enabled us to grow into one of North America’s premier energy companies. For more information: www.cpv.com and follow CPV on Twitter and LinkedIn.