ING Will Use Wind Energy Credits
Initially, the Dutch financial services firm will purchase enough credits to cover power use this year and next. ING will invest about $600,000 in the credits, according to Philip K. Margolis, an ING spokesman in Hartford.
Like most businesses, ING can't obtain its electricity directly from renewable energy sources, such as wind. Instead, it is contracting to purchase 70,000 megawatt hours of wind-energy credits. Each credit represents 1 megawatt-hour of electricity from wind energy sources.
Producers of such energy sell the credits through brokers and the money that is raised helps pay for generating electricity by wind, cutting down on energy production by burning fuels such as coal.
Related News
SaskPower reports $205M income in 2019-20, tables annual report
REGINA - SaskPower presented its annual report on Monday, with a net income of $205 million in 2019-20.
This figure shows an increase of $8 million from 2018-19.
“Reliable, sustainable and cost-effective electricity is crucial to achieving the economic goals laid out in the Government of Saskatchewan’s Growth Plan and the emissions reductions targets outlined in Prairie Resilience, our made-in-Saskatchewan climate change strategy,” Minister Responsible for SaskPower Dustin Duncan said.
In the last year, SaskPower has repaired and upgraded old infrastructure, invested in growth projects and increased grid capacity.
“During the past year, we continued to move toward our target to reduce carbon dioxide…
