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Rivian Automotive ($RIVN) Signs Wind Energy Deal to Power Illinois Manufacturing Operatings

05 December 2022

Rivian Automotive (NASDAQ: RIVN) has announced the signing of a power purchase agreement with Apex Clean Energy for 50 megawatts of electricity from the Goose Creek Wind farm in Piatt County, Illinois.

This purchase will allow Rivian to power as much as 75% of its Illinois plant operations, with carbon free energy on an hourly basis. The company says that this is the first major renewable energy purchase in Illinois and that it supports the Climate Pledge that Rivian has signed to reach net-zero carbon emissions by 2040.

Andrew Peterman, Rivian Director of Renewable Energy stated: “About a third of global greenhouse gas emissions come from transportation, with nearly another third from electricity generation. We have a tremendous opportunity at Rivian to help tackle emissions beyond the tailpipe to support decarbonization of manufacturing and charging of electric vehicles. Long-term success for us means helping to accelerate the transition to carbon-free energy across the entire economy, not just within Rivian’s own footprint.”

Mark Goodwin, President and CEO of Apex added: “With Goose Creek Wind, Rivian is modeling an innovative approach to clean energy procurement—one that emphasizes maximum benefit to the local community, economy, and environment”

Rivian is building products and services that will help the planet transition to carbon neutral energy and transportation. The company designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers in the consumer and commercial markets.

Shares of Rivian Automotive trade on the NASDAQ, under the ticker symbol RIVN.

 

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