Consolidated Communications Signs New Community Solar Agreements Supporting Local Renewable Energy Efforts

Rhea-AI Summary

Consolidated Communications (NASDAQ: CNSL) has signed its first two community solar agreements, enhancing its sustainability initiatives. The contracts, located in Maine and Minnesota, aim to generate significant renewable energy credits, supporting local economies and environmental conservation. The Maine subscription of 5.3 MW could produce 6.47 million kWh annually, sufficient to power 603 U.S. households. Meanwhile, the Minnesota agreements will yield 3.09 million kWh for 288 households. The company intends to formalize its emissions footprint study to implement future sustainability projects.

Positive

• Signed long-term community solar agreements in Maine and Minnesota to enhance sustainability.
• Maine subscription could generate enough energy for 603 U.S. households annually.
• Minnesota subscriptions expected to power 288 households yearly.
• Initiatives expected to increase local jobs and tax revenues.
• Formal study of emissions footprint to guide future sustainability efforts.

Negative

• None.

Agreements are part of company’s sustainability and energy conservation initiative

MATTOON, Ill.--(BUSINESS WIRE)-- Consolidated Communications (NASDAQ: CNSL), a top 10 fiber provider, today announced the signing of its first two community solar agreements. The use of climate-friendly energy is an important part of the Company’s growing sustainability efforts and helps ensure its continued stewardship of the environment.

When businesses, organizations or individuals subscribe to solar farms, the clean energy produced is fed directly to the utility grid, generating credits on subscribers’ electric bills for the value of the energy generated by their share of the farm. Community solar also benefits local economies by creating jobs, increasing tax revenues and generating income to support landowners.

Following conversations with multiple community solar developers across the company’s service area, Consolidated signed long-term agreements in Maine and Minnesota. The commitments, arranged with assistance from Insight Energy, increase the availability of clean power and help address climate change efforts.

In Maine, Consolidated is subscribed to 5.3 MW of solar capacity located in Versant Power. Its subscription is expected to generate approximately 6,470,335 kWh annually, enough to power 603 average U.S. households for a year,¹ and will be supported by 409 company properties in the state.

In Minnesota, Consolidated is participating in the Solar*Rewards Community Program, the nation’s largest community solar program, administered by Xcel Energy. The company is subscribed to eight local solar gardens for nearly 2.6 MW of solar capacity, which is expected to generate approximately 3,092,466 kWh annually. This is enough to power 288 average U.S. households for a year.²

The energy generated from the two subscriptions is the equivalent of greenhouse gas emissions from nearly 763,000 gallons of gasoline consumed.³

“These commitments represent an important step in our journey to continue building a robust, sustainable business while reducing our environmental footprint,” said Bob Udell, Consolidated’s president and chief executive officer.

This year, the company is undertaking a more formalized study of its emissions footprint, beginning with the establishment of a Scope 2 emissions baseline. This baseline will help Consolidated measure and work toward reducing its overall Scope 2 emissions through future initiatives and programs.

The company has also embarked on a project to upgrade lighting to LED across more than 400 locations, as well as a range of other energy conservation measures to improve efficiency and drive further operational emission reductions. It is also establishing critical environmental goals around water consumption and waste, reuse and recycling programs -- key areas within its everyday operations.

“At Consolidated, we’re working hard to sustainably deliver the critical broadband infrastructure our customers and communities rely on,” said Eric Dunmire, senior director of facilities at Consolidated Communications. “These agreements allow Consolidated to contribute to cleaner energy for our communities and protect our environment in a cost-competitive way.”

More information on the company’s environmental commitment and goals, notable accomplishments and progress on important initiatives is available at consolidated.com/esg.

About Consolidated Communications

Consolidated Communications Holdings, Inc. (NASDAQ: CNSL) is dedicated to moving people, businesses and communities forward by delivering the latest reliable communications solutions. Consumers, businesses and wireless and wireline carriers depend on Consolidated for a wide range of high-speed internet, data, phone, security, cloud and wholesale carrier solutions. With a network spanning more than 50,000 fiber route miles, Consolidated is a top 10 U.S. fiber provider, turning technology into solutions that are backed by exceptional customer support. Learn more at consolidated.com. Connect with us on social media.

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¹  https://www.eia.gov/tools/faqs/faq.php?id=97&t=3
²  https://www.eia.gov/tools/faqs/faq.php?id=97&t=3
³ Calculation derived from the Environmental Protection Agency’s Greenhouse Gas Equivalencies Calculator - https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator

View source version on businesswire.com: https://www.businesswire.com/news/home/20220421006020/en/

Jennifer Spaude, Consolidated Communications

507.386.3765, jennifer.spaude@consolidated.com



Shannon Sullivan, Consolidated Communications

603.656.1521, shannon.sullivan@consolidated.com

Source: Consolidated Communications

FAQ

What are the recent solar agreements signed by Consolidated Communications (CNSL)?

Consolidated Communications signed its first two community solar agreements in Maine and Minnesota as part of its sustainability initiative.

How much energy will the Maine solar agreement generate for Consolidated Communications?

The Maine solar subscription is expected to produce approximately 6,470,335 kWh annually.

What is the impact of the Minnesota solar agreements for Consolidated Communications?

The Minnesota agreements will generate around 3,092,466 kWh annually, which can power 288 average U.S. households.

What are Consolidated Communications' sustainability goals?

The company is working on reducing its environmental footprint and has started a formal study of its emissions footprint.

How do the solar agreements benefit local economies?

The community solar agreements are expected to create jobs, increase tax revenues, and generate income for landowners.