Bloomberg Expands Access to Community Solar Project to 4,800 Eligible Employees
https://ca.finance.yahoo.com/news/bloomberg-expands-access-community-solar-123700456.html New York, New York--(Newsfile Corp. - July 15, 2021) - Bloomberg today expanded access to community solar projects managed by Common Energy to more than 4,800 of its employees based in New York City. Through Common Energy's Clean Energy Benefit Program, Bloomberg employees based in the city can enroll to support new, local community solar projects. The New York City community solar projects will be owned and operated by UGE International (TSXV: UGE) (OTCQB: UGEIF), a global clean energy developer.
Community solar projects generate clean energy that flows to the power grid, thereby decreasing the use of fossil fuels and lowering emissions in the community. Employees who enroll in the program benefit by receiving clean energy credits that reduce their electricity cost each month. There is no cost to Bloomberg or its employees.
"By giving our employees the option to support community solar projects everyone wins," said Beth Mazzeo, Chief Administrative Officer at Bloomberg. "We raise awareness for the benefits of renewable energy, support local solar projects, lower emissions and fossil fuel consumption overall and on top of that our employees can lower their electricity bill each month."
To date, Bloomberg employees are backing seven clean energy projects across the U.S. Northeast region serving ConEdison, Central Hudson Gas & Electric, Orange & Rockland Utilities, PSEG Long Island and PSEG New Jersey territories. Together, these projects will generate approximately 14 million kilowatt hours of clean energy and prevent over 7 million pounds of carbon emissions each year. Over the lifetime of the projects, they are expected to generate over 332 million kilowatt hours of clean energy and prevent over 160 million pounds of carbon emissions.
Bloomberg and Common Energy initially started to partner in October 2019 making community solar projects available to over 260 employees at the time. The partnership has since grown and with this expansion is now providing nearly 8,700 employees access across New York, New Jersey and Long Island. Bloomberg will continue to collaborate with Common Energy on projects that align with the company's employee base across the U.S.
Community solar provider Common Energy's corporate programs are an extension of its core mission to accelerate the United States' clean energy transition and enable the public to save money and lower emissions. "Common Energy is proud to partner with Bloomberg and UGE to help connect new clean energy projects to the electrical grid," said Richard Keiser, CEO of Common Energy. "These projects lower emissions across the greater New York and New Jersey regions, benefiting the entire community."
Mateo Chaskel, Managing Director at UGE, said, "UGE is proud to partner with Common Energy and Bloomberg to build, own, and manage these projects. Community solar is a key part of our mission to accelerate clean energy adoption and decarbonize the energy sector."
The partnership with Common Energy is in line with Bloomberg's long-standing commitment to sustainability and reducing emissions. The community solar projects are an addition to other sustainability-focused benefits for Bloomberg employees, such as electric vehicle charging stations in the Princeton, New Jersey office or sustainable food options in catering operations and cafeterias in New York and New Jersey. To learn more about Bloomberg's sustainability initiatives and to read our latest 2020 Impact Report visit www.bloomberg.com/impact.