Intel Makes a Major Investment in Renewable Energy

About 5 percent of global corporations consider climate change a major priority. One of the notable companies moving in that direction is Intel (Nasdaq:INTC), which is now the largest corporate purchaser of renewable energy in the U.S.

Intel has agreed to buy renewable energy certificates (REC) for more than 1.3 billion kilowatt hours per year, which is equivalent to 46 percent of its total U.S. energy use.

Though company officials did not list the length of its agreement, it is likely a significant commitment. Intel’s investment is expected to drive construction of new renewable energy generation facilities, spur similar investments by other companies and eventually drive sufficient demand to lower costs. It also ensures that Intel will be using energy from renewable sources such as wind, the sun and biomass.

Intel has been buying wind power in Oregon for its plant there for years, and this year will purchase 25 million kilowatt hours of wind power.

Intel has always been a leader in environmental monitoring and management at its semiconductor manufacturing facilities and has received numerous awards from environmental groups.

Second among firms buying renewable energy credits is a company that might surprise you: PepsiCo is buying 1.1 billion kilowatt hours of REC per year.

Add comment January 31st, 2008