Renewable Energy - Phase 4

Implementation of a Renewable Energy Strategy

We’re using a defined strategy based on available options, key priorities, and ambition. We’ve identified our company’s motivations for procuring renewable energy, adopted supporting goals and commitments, and included internal human and financial resources to support this launch. We will:

Assess Our Options

We’ve assessed the landscape of renewable energy sourcing options available on the market and determined what’s feasible. We’ve also identified practices that will impact renewable energy costs, incentives, and availability. After narrowing procurement options based on geography, our company will consider specific site constraints based on the following questions:

  • Is our real estate portfolio suitable for onsite renewable energy generation? We may not have the option of leveraging onsite renewable energy, given a leasing contract.
  • What is the potential for projects/installations given suitable onsite generation? Our build will look at the energy capacity of any possible projects/facilities to calibrate local procurement implementation, including asset type and energy capacity during development.
  • What is our time horizon? We will consider long-term contracts for sites with the determined length of occupancy and potential for power generation.

Create Our Strategy

After determining our options, the next step is to assess our ambition level and define our renewable energy strategy to complement our business and sustainability strategies. Available financial resources will factor prominently into this and ultimately dictate the realistic level of ambition set.

Our strategy will reflect Verte Mode’s motivation for renewable energy procurement. We will prioritize new onsite or regional solar installations and choose only to purchase renewable energy attributes (e.g., RECs) bundled with renewable power. If there is a market demand for wind energy, we may source the majority at 75 percent for wind and roughly 25 percent from onsite installations.

Define Opportunities to Collaborate

If needed, we will collaborate with other companies to help achieve our strategic renewable energy objectives and minimize the barriers to entry for procurement. We may consider partnering with a group of companies with regional operations willing to enter into a shared procurement contract (consortium aggregation) to leverage resources and tools at a greater pace.