Lord & Taylor in wind energy agreement with Green Mountain Energy
Austin, Texas -- Green Mountain Energy announced that Lord & Taylor is purchasing 100% wind energy for seven of its stores in New Jersey. With this purchase, Lord & Taylor becomes the first commercial customer in New Jersey for Green Mountain, which recently began selling to businesses in the Garden State.
Lord & Taylor signed an 18 month contract with Green Mountain to purchase over 21 million kilowatt hours (kWh) of 100% wind energy for the seven New Jersey locations. The retailer’s purchase of clean energy is expected to avoid over 23 million pounds of CO2 (carbon dioxide) over the term of the contract.
In 2011, Lord & Taylor also partnered with Green Mountain to purchase 100% wind energy for its flagship store in Manhattan, as well as its Eastchester, N.Y., store.
The wind energy to supply the seven Lord & Taylor stores will be purchased by Green Mountain in the form of renewable energy certificates (RECs). Purchasing RECs in the same quantity as Lord & Taylor’s electricity consumption ensures that the amount of energy used by each of the stores is added to the U.S. power grid from renewable sources and supports the further development of these projects.
“Green Mountain was awarded the electricity contract after a comprehensive bid process with multiple energy suppliers,” said Charles De Casteja, managing partner of Good Energy, New York City, Lord & Taylor’s energy consulting firm. “Green Mountain was selected as a result of its winning competitive electricity rate, favorable contract terms and leadership in the renewable energy industry.”