NEW YORK, Oct. 16, 2014 /PRNewswire/ -- OwnEnergy, a national leader in the development of mid-sized wind farms, today announced that it has entered into a long-term Power Purchase Agreement (PPA) with Yahoo!, Inc. Under the terms of the PPA, Yahoo will purchase wind power which will be used to offset much of Yahoo's energy usage in the Great Plains region.
"It's great to see a leading tech company like Yahoo working to expand the use of renewable energy, and its involvement in this project will enable us to generate both local jobs as well as financial upside for members of the Rush County community," said Jacob Susman, Founder and CEO of OwnEnergy.
OwnEnergy partners with energy entrepreneurs across the country to develop wind projects. The company's local partners are leading members of wind-rich communities who play an active role in project development and receive a share of project ownership in return.
"At Yahoo, we're committed to being an environmentally responsible company," said Chris Page, Global Director, Energy and Sustainability Strategy. "Driving the development of cleaner and renewable sources of power is an important piece of our sustainability strategy. We're proud to partner with OwnEnergy in a community-based project that increases the amount of clean, sustainable energy in the Great Plains region. We take care in ensuring that we are an engaged member of the communities in which we live and work. This partnership is a fantastic opportunity to improve Yahoo's energy sustainability while contributing to the community in Rush County and across the region."
While Yahoo is one of the first tech companies to embrace this model of community-centric partnership, the trend for corporate purchasers to buy wind directly from wind farms is gaining pace.
"OwnEnergy's business model taps into the entrepreneurial spirit of farmers, ranchers and landowners across the United States, providing them with economic opportunities, operational resources and industry expertise necessary to develop a source of clean, renewable energy," said Susman. "We look forward to working with an industry leader like Yahoo, a company that shares our commitment to clean energy and to supporting the economic prosperity and social well-being of local communities across the country."
OwnEnergy is the national leader in mid-sized wind energy development that enables landowners and communities to build and profit directly from their own local wind farms. Since OwnEnergy was founded in 2007, it has grown a pipeline of more than 25 community-supported energy wind farm partnerships across 23 U.S. states. The Company works in partnership with its nationwide network of energy entrepreneurs to develop the approximately 2,000MW of wind farms in its pipeline. OwnEnergy has a breakthrough business model for the profitable and capital-efficient development of these mid-size wind farms that involves local ownership and proprietary development systems. The Company's mid-size wind farms are ideal for corporate purchasers interested in OwnEnergy's 'one stop shop' approach to serving corporate customers long-term, fixed price, clean energy to supply their operations in a sustainable way. The power of the company's business model is reflected in the six projects it has already successfully developed. OwnEnergy is based in Brooklyn, New York. For more information about OwnEnergy visit www.ownenergy.net.
Yahoo is focused on making the world's daily habits inspiring and entertaining. By creating highly personalized experiences for our users, we keep people connected to what matters most to them, across devices and around the world. In turn, we create value for advertisers by connecting them with the audiences that build their businesses. Yahoo is headquartered in Sunnyvale, California, and has offices located throughout the Americas, Asia Pacific (APAC) and the Europe, Middle East and Africa (EMEA) regions. For more information, visit the pressroom (pressroom.yahoo.net) or the Company's blog (yahoo.tumblr.com).