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Leading Manhattan Leasing and Management Real Estate Firm ABS Partners Real Estate, LLC Signs Agreement with Transparent Energy for 52 Million kWh of Renewable EnergyJune 15, 2014
ABS Partners Real Estate, LLC has signed a two-year agreement for 52 million kilo-watt hours (kWh) of renewable energy. Utilizing Transparent Energy, an energy procurement advisory firm based in Fairfield, NJ, this contract delivers a 100% renewable energy commitment to all buildings and tenants under management.
Spanning over 6 million square feet of managed property with core properties located in New York City, concentrated in the Midtown South market, ABS will purchase 100% wind, hydro, and solar power totaling nearly 26 million kilowatt hours (kWh) of renewable energy each year. This contract cements ABS’s commitment to innovative green power solutions for its clients and customers.
The energy plan will avoid nearly 18,000 metric tons (or 39,682,800 million pounds) of carbon dioxide emissions from being emitted into the atmosphere. This commitment has a similar impact as annual greenhouse gas emissions from 3,773 passenger vehicles or CO2 emissions from 2,016,543 gallons of gasoline consumed or 19,249,216 pounds of coal burned or 41,677 barrels of oil consumed.
Utilizing Transparent Energy’s proprietary auction software, ABS was able to offset the cost of the renewable energy credits by reducing the competitive offers by 8% on the green portion of ABS’s energy costs.
The 52 million kWh’s of Renewable Energy Credits (RECs) were purchased from Liberty Power Corporation, the nation’s largest independent retail electric supplier, based in Fort Lauderdale, Florida. Each REC represents the equivalent of one megawatt hour of electricity generated from renewable sources. A renewable energy contract of this scale would land in the top-50 of the United States Environmental Protection Agency’s (EPA) national Top 100% Green Power Purchaser List.