SmartestEnergy US Furthers its Expansion into the North American Power Markets by Signing Power Purchase Agreement with ALLETE Clean Energy
SmartestEnergy US will receive Energy and Renewable Energy Certificates from the ALLETE Clean Energy Armenia Mountain Wind farm in PA, underscoring SmartestEnergy’s commitment to provide industry-leading customized power products to customers across the energy complex
November 19, 2024 – Syracuse, NY: SmartestEnergy US, the energy company empowering businesses, generators and partners though creative energy solutions, has today announced a new Power Purchase Agreement (PPA) to receive power and Renewable Energy Certificates (RECs) from the 100.5 MW Armenia Mountain Wind Farm, located in Tioga and Bradford Counties, Pennsylvania, in the Pennsylvania-New Jersey-Maryland Interconnection (PJM). This partnership further expands the footprint of SmartestEnergy US and the support it can provide in helping wholesale customers across the energy complex manage market risk with customized structured product offerings and innovative, sustainable solutions.
Under the long-term agreement between SmartestEnergy US and ALLETE Clean Energy, SmartestEnergy will purchase 50% of the energy and RECs generated from the Armenia Mountain facility for a fixed price. The agreement, while helping to ensure stable and predictable revenue for the facility, will contribute to SmartestEnergy’s portfolio of renewable energy assets, and will ultimately help customers in the region meet their renewable energy objectives.
The Armenia Mountain Wind Farm, operational since 2009 and owned by ALLETE Clean Energy, is an important source of renewable energy in Pennsylvania. Equipped with 67 GE 1.5 MW wind turbines, the farm has been producing clean electricity for over a decade, significantly reducing carbon emissions in the region. The facility has a proven track record of reliable energy production, contributing to a sustainable energy future.
Andy Cormie, CEO, SmartestEnergy US, said, “Securing the Armenia Mountain Wind PPA marks a significant milestone for SmartestEnergy and our U.S. Origination team. With ALLETE Clean Energy entrusting us as a long-term partner for the Armenia Mountain facility, we are able to successfully continue our expansion into the U.S. energy markets, strengthen our generator strategy, and work toward our ambition of becoming an industry-leading wholesale power marketer that provides tailored products and solutions to our customers.”
“We’re excited to enter a dynamic business segment with SmartestEnergy US as our Armenia Mountain Wind continues delivering reliable, renewable energy to new customers,” said ALLETE Clean Energy President Nicole Johnson. “As customers increasingly seek more renewable energy, our Armenia Mountain team is dedicated to keeping the site’s turbines generating energy from the wind.”
This partnership underscores SmartestEnergy US’s ongoing efforts to support the energy transition and contribute to a cleaner, greener future. By securing renewable energy from wind power, the company continues to provide its customers with sustainable energy solutions while advancing environmental stewardship.
If you would like to find out more about SmartestEnergy US and how it can support you, further information is available here.
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About SmartestEnergy US
SmartestEnergy is a people-powered energy retail partner and wholesale commodity trader built on a team of US energy experts and strong relationships with our partners. We opened our New York office in 2019, following two decades of growth and customer focus in the UK. As a forward-thinking and resilient energy partner, we support customers across the energy transition spectrum navigate uncertainty and enhance the value of their assets. Our energy is flexible, reliable and renewable, and our helpful insights into the US market enable smarter energy decisions. We’re proud to be a wholly owned subsidiary of Marubeni, a Japanese corporation currently listed as a Fortune Global 500 company.
About ALLETE Clean Energy and ALLETE
ALLETE Clean Energy, a wholly owned subsidiary of ALLETE (NYSE: ALE), owns, operates, and has delivered build-transfer projects totalling more than 1,600 megawatts of nameplate wind capacity across eight states. The company is well-positioned to drive additional clean-energy sector growth.
ALLETE Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy in Bismarck, North Dakota; and New Energy Equity, headquartered in Annapolis, Maryland; and has an 8% equity interest in the American Transmission Co. More information about ALLETE is available at www.allete.com.
Photo caption: An Aerial view of part of ALLETE Clean Energy’s Armenia Mountain Wind site in Pennsylvania.
Media Contact:
Name: Jessenia Wright