Ørsted Signs Power Purchase Agreement With the Microsoft Corporation
Per the terms of Ørsted's agreement, Microsoft will buy power from Ørsted's 430 MWAC solar energy center Old 300 in Fort Bend County, Texas, which is expected to come online in Q2 2022.
"Microsoft has ambitious sustainability objectives for their Scope 1, 2 & 3 emissions, and we're thrilled to support their targets," said Vishal Kapadia, Senior Vice President and Chief Commercial Officer in Ørsted Onshore. "Given the strong alignment in focus on emission reductions between our two organisations, I'm excited about our continued collaboration."
Adrian Anderson, Senior Director, Renewable Energy at Microsoft, said: "On our journey to 100 percent renewable energy, we recognize that innovation and collaboration are fundamental in how we fight against climate change. We're grateful for our collaboration with Ørsted to deliver renewable energy in ERCOT and look forward to continued progress towards a net-zero carbon future."
Old 300 Solar Center is located on approximately 2,800 acres of privately owned land located near the City of Needville in Fort Bend County, Texas. The project represents an investment of more than USD 400 million in the local community that'll benefit landowners, schools, and other community services for years to come via lease payments and property taxes.
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products to its customers. Ørsted ranks as the world's most sustainable energy company in Corporate Knights' 2021 index of the Global 100 most sustainable corporations in the world and is recognized on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs 6,311 people. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2020, the group's revenue was DKK 52.6 billion (EUR 7.1 billion). Visit orsted.com or follow us on Facebook, LinkedIn, Instagram, and Twitter.