Boston, MA. A group of Boston-area businesses has created an innovative partnership model in an effort to reduce the impact of climate change. Massachusetts Institute of Technology (MIT), Boston Medical Center (BMC), and Post Office Square Redevelopment Corporation, all members of Boston-based “A Better City,” have teamed up to purchase electricity from a large solar installation. This is the largest renewable power purchase agreement for such a diverse group of purchasers in the nation.
The three organizations each entered into a 25-year power purchase agreement which enabled the construction of a 650-acre, 60-megawatt solar farm in North Carolina to be built by the end of 2016. When complete, the panels will generate enough energy to offset almost 120,000 metric tons of carbon dioxide each year.
Nixon Peabody partners Ruth Silman and Elizabeth Whittle served as legal counsel to A Better City, MIT, BMC and Post Office Square Redevelopment Corporation in this transaction. A Better City’s mission is to improve the economic health, competitiveness, sustainability and quality for life for businesses and people living in the Greater Boston area.