Comcast Deals to Buy 250MW of Clean Power for U.S. Operations

By Chris Wack

Comcast Corp. said it has entered into an agreement to buy 250 megawatts of solar electricity from Constellation Energy Corp. in order to power 12% of its U.S. operations and the vast majority of its Mid-Atlantic operations with clean, renewable energy.

The agreement will support construction of the Blue Sky Solar Project, currently being developed by Scout Clean Energy in Illinois, creating local jobs and bringing additional clean electricity to the U.S. power grid.

Comcast has said it plans to be carbon neutral by 2035. With purchased electricity accounting for the majority of these emissions, sourcing renewable energy is critical to meeting this goal.

Comcast's renewable energy strategy will prioritize securing green tariffs, direct power purchase agreements, and virtual PPAs through contracts that bring new renewable capacity to the grid. It also will include building onsite renewable energy capacity and supplementing electricity needs with purchases from existing clean energy projects or renewable energy certificates.

The agreement will allow Comcast to reduce the carbon dioxide emissions associated with its energy use by nearly 360,000 metric tons annually, equivalent to avoiding the emissions from more than 65,000 homes' electricity use for a year.

The project will create up to 400 construction jobs and 20 new local long-term jobs, and generate $36.3 million in tax revenue over the life of the project, including $25.4 million slated to go directly to local schools. Blue Sky is expected to reach commercial operation by December 2024.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

March 31, 2022 11:14 ET (15:14 GMT)

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