Bedrock Commits to Reducing Carbon Emissions in Partnership with DTE Energy

- Bedrock to acquire more than 21,900,000 kilowatt hours (kWh) annually of solar energy through agreement with DTE Energy's MIGreenPower renewable energy program

- Clean energy attributed to the real-estate developer's portfolio in downtown Detroit offsets an estimated 15,500 metric tons of carbon dioxide annually

News provided by

Bedrock

Apr 22, 2021, 09:00 ET

DETROIT, April 22, 2021 /PRNewswire/ -- Bedrock, Detroit's largest real-estate developer, today announced its continued commitment to reduce overall carbon emissions across its portfolio through an agreement with DTE Energy to acquire approximately 22,000,000 kilowatt hours (kWh) – or 22,000 megawatt hours (MWh) - of Michigan-made clean energy annually through DTE Energy's MIGreenPower voluntary renewable energy program.

"As the city's largest real-estate operator, we believe that it is imperative for us to take the lead in modernizing our properties as we look to reduce our overall carbon footprint," said John Guardiola, Senior Vice President, Engineering & Sustainability at Bedrock. "This partnership with DTE allows us to effectively expand our renewable energy strategy by providing access to new and sustainable energy sources."

Beginning 2023, approximately 22,000,000 kWh of Bedrock's total energy usage will be attributed to DTE solar farms, reducing the company's greenhouse gas emissions and offsetting an estimated 15,500 metric tons of carbon dioxide annually—or, the equivalent of decreasing the number of passenger vehicles on the road each year by 3,375.

"We are excited to welcome Bedrock to the rapidly growing list of major Michigan companies using our MIGreenPower program to meet their sustainability goals," said Trevor Lauer, president of DTE's electric company. "As Michigan's leading producer of renewable energy, we are committed to increasing generation from wind and solar, which reduces carbon emissions and helps combat climate change. Enrolling in MIGreenPower accelerates the development of Michigan-made renewable energy, and we appreciate the strong support Bedrock and others have demonstrated by joining this program."

Bedrock's MIGreenPower commitment will additionally enhance sustainability measures at the Book Tower renovation and the Hudson's Site development—which is currently pursuing full LEED certification.

"Committing to a sustainable future is our moral imperative. Not only is it the right thing for us to do, but it represents an important opportunity for Bedrock to be a leader in sustainable efforts going forward," said Kofi Bonner, CEO of Bedrock. "Our commitment to going green will not only reduce greenhouse gases regionally, but better support our local community, benefit our tenants and will enhance our ability to attract quality tenants."

Bedrock's MIGreenPower commitment furthers the company's mission of powering a majority of its downtown properties using clean energy. The developer has previously gained approval of the Detroit Chapter of the International 2030 District, a group aimed at reducing the carbon footprint of historical buildings by 50 percent and new construction by 100 percent over the next 10 years.

In support of this goal, Bedrock installed solar panels and lighting arrays at 1500 and 1528 Woodward, which provide approximately 5,800 kWh of sustainable energy for each of these locations.

The company also adopted a smart building standard in 2017, requiring that all of its properties be integrated with a building management system to quickly and effectively track the efficiency of its equipment—including advanced LED lighting, air filtration systems, temperature control, motorized blinds and strategic access to natural light.

Among the top three voluntary renewable energy programs nationwide, DTE's MIGreenPower program enables customers to attribute up to 100 percent of their energy use to the company's wind and solar projects. In just three years, MIGreenPower subscribers have supported nearly 100 million kWh of clean energy, which is equivalent to the greenhouse gas emissions avoided by switching more than 2.6 million incandescent lamps to LEDs. Bedrock joins nearly 30,000 residential customers and more than 300 businesses who are using MIGreenPower to reduce their carbon footprint.

Bedrock will announce additional green initiatives throughout the year as part of its overall Sustainability Strategy, focusing on waste, mobility, water and energy.

For more information about MIGreenPower, please visit www.migreenpower.com.

About DTE Energy

DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.2 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers in Michigan. The DTE portfolio includes energy businesses focused on power and industrial projects; renewable natural gas; natural gas pipelines, gathering and storage; and energy marketing and trading. As an environmental leader, DTE utility operations will reduce carbon dioxide and methane emissions by more than 80 percent by 2040 to produce cleaner energy while keeping it safe, reliable and affordable. DTE Electric and Gas aspires to achieve net zero carbon and greenhouse gas emissions by 2050. DTE is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy and economic progress. Information about DTE is available at dteenergy.com, empoweringmichigan.com, twitter.com/dte_energy and facebook.com.

About Bedrock

Bedrock, Detroit's largest real estate company, is a full-service real estate firm specializing in acquiring, developing, leasing, financing and managing commercial and residential buildings. Since its founding in 2011, Bedrock and its affiliates have invested and committed more than $5.6 billion to acquiring and developing more than 100 properties, including some of the most significant new developments that Detroit and Cleveland have seen in decades. Bedrock's portfolio totals more than 18 million square feet of office, retail and residential space within new construction and adaptive reuse projects.

The majority of Bedrock's hundreds of office, retail and restaurant tenants in Detroit's technology-centric downtown are new to the market. Notable office tenants include Coyote Logistics, Microsoft, Quicken Loans, LinkedIn, StockX, Universal McCann, NPower and Ally Bank's national headquarters. Notable retail tenants include H&M, The Lip Bar, 6 Salon, Nike, Shake Shack, Buddy's Pizza, Eatori and countless others.

Bedrock is currently developing a number of landmark projects across downtown Detroit, including the Hudson's Site, the Book Tower restoration and City Modern. Creating unique experiences through real estate is Bedrock's mission and to make this a reality, Bedrock and its affiliates continuously invest in significant placemaking and public art initiatives throughout the city.

In 2020, Bedrock became one of the only landlords in the country to launch several initiatives designed to support small business and retail tenants during the COVID-19 pandemic, which continue today with heated outdoor dining experiences, free parking and a drive-in movie theater.

Partnering with Detroit-based Shinola, Bedrock developed the world's first Shinola Hotel on Woodward Avenue, which opened in early 2019.

For more information on Bedrock's projects, visit bedrockdetroit.com or engage with us on Facebook, Instagram, Twitter and LinkedIn.

Click here to view a complete timeline of Bedrock and the Rock Family of Companies' engagement within the Detroit community.

*Avoided emissions and equivalencies are based on the Environmental Protection Agency equivalencies calculator at epa.gov/energy/greenhouse-gas-equivalencies-calculator.