Long-term agreement will produce enough energy to support the
company’s entire mid-Atlantic region, providing rate stability and
substantial utility cost savings
BOSTON--(BUSINESS WIRE)--
Iron
Mountain Incorporated® (NYSE:IRM), the storage and information
management company, today announced the signing of a 15-year wind power
purchase agreement that will exchange 30 percent of its North American
electricity footprint with renewable energy. Additionally, the purchase
of two-thirds of the power produced by a new wind turbine farm –
currently under construction in Ringer Hill, Penn. – will provide Iron
Mountain with long-term rate stability and expected annual savings of up
to $500,000 in utility costs.
The power generated by the Ringer Hill turbines will directly provide
for the energy needs of Iron Mountain’s entire mid-Atlantic operations
(comprising all or part of 13 states, including Washington, DC),
currently using over 80,000 megawatt hours of electricity annually. In
particular, this wind power purchase will support the energy
requirements for Iron Mountain’s emergent data center business,
projected to account for as much as 20 percent of the company’s
electricity use in North America as the business grows.
“As the largest operational cost and environmental concern, power has an
incredible impact on our data center business,” said Mark Kidd, senior
vice president and general manager, Iron Mountain Data Centers. “Locking
in a long-term, reliable and renewable energy supply ensures price
stability, predictability and superior cost control. The wind power
agreement, along with our recent Better Buildings Initiative pledge to
reduce energy intensity of 8.75 megawatts, demonstrates a serious
commitment to environmental responsibility. This new agreement better
positions Iron Mountain and our customers to meet the growing demand for
clean, sustainable power.”
The agreement was signed in December 2015 with New Jersey Resources, a
company that provides natural gas and clean energy services, including
transportation, distribution and asset management. When the wind farm
goes online at the end of 2016, Iron Mountain will become one of the top
25 buyers of renewable energy among the FORTUNE 1000 and a top 70
energy buyer in the Environmental Protection Agency Green Power
Partnership, a voluntary program that encourages the organizational
procurement of sustainable power.
“This agreement represents a really exciting opportunity for us as we
continue to advance our sustainability efforts,” said Ty Ondatje, senior
vice president of corporate responsibility and Iron Mountain’s chief
diversity officer. “Our corporate responsibility journey has seen us
evolve from our initial focus on corporate citizenship to a deeper, more
strategic agenda that uses environmental and social metrics to help us
identify ‘blind spots’ in our business where we can innovate. In doing
so, we are finding new ways of doing things that drive significant
business value and deliver better results for our customers, our
communities and the environment. This agreement, as well as our solar
power projects, will deliver bottom-line impact for our business through
both operational efficiencies and significant cost savings. And, in
turn, we can help our customers to do the same when they choose us for
their storage and information management needs.”
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) is a leading provider of storage
and information management services. The company’s real estate network
of more than 69 million square feet across more than 1,100 facilities in
37 countries allows it to serve customers around the world. And its
solutions for records
management, data
management, document
management, data
center and secure
shredding help organizations to lower storage costs, comply with
regulations, recover from disaster, and better use their information.
Founded in 1951, Iron Mountain stores and protects billions of
information assets, including business documents, backup tapes,
electronic files and medical data. Visit www.ironmountain.com
for more information.
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Source: Iron Mountain