Wind Deal Brings Real Estate Investment Trust To Carbon Neutrality

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In a three-year agreement with Calpine Energy Solutions LLC, Hudson Pacific Properties Inc. has purchased the environmental attributes associated with 577,000 MWh from the Horse Hollow III Wind Farm in Wingate, Texas, located in Runnels County. In turn, the real estate investment trust says it is now offsetting 100% of its electricity-generated greenhouse-gas (GHG) emissions.

The company expects that the new wind deal will offset its GHG emissions by approximately 121,500 metric tons of CO2 over the next three years – which is effectively all anticipated electricity-generated GHG emissions from properties it owns and manages. This includes 53 office and three studio properties, totaling more than 16.5 million square feet in Los Angeles, Silicon Valley, San Francisco, Seattle and Vancouver, B.C.

“Our investment in renewable energy delivers on our strategic approach to realize a range of short- and long-term benefits associated with reducing our environmental impact and increasing operational efficiencies throughout our portfolio,” comments Natalie Teear, vice president of sustainability and social impact at Hudson Pacific. “This is a significant step that brings us closer to our sustainability goals and is perfectly aligned with current carbon-neutrality policies within our core markets.”

Photo: David Benbennick [Public domain]

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