Archaea signs 21-year RNG deal with NW Natural
Archaea Energy’s subsidiary, Archaea Holdings, has entered into a 21-year RNG purchase and sale agreement with Northwest Natural Gas Company (NW Natural), which serves around 2.5 million people in Oregon and Southwest Washington.
Under the agreement, NW Natural will purchase the environmental attributes generated by Archaea related to up to one million MMBtu of RNG annually from its portfolio of RNG production facilities for a fixed fee for 21 years.
The agreement will commence early next year, with the full annual quantity beginning in 2025. The RNG produced by Archaea for this long-term partnership is expected to prevent methane emissions at US landfills and displace conventional natural gas.
“We are pleased to partner with NW Natural and look forward to our multi-decade business relationship,” said Archaea’s co-founder and CEO, Nick Stork.
“This agreement, our first with a US utility, is a testament to the strength of our commercial offerings and highlights our ability to help utilities provide lower-carbon options to their customers and achieve their sustainability goals.”
David Anderson, NW Natural’s president and CEO, said the company is “excited” to work with Archaea and that the agreement marks “another meaningful step” on the path to achieving its long-term carbon-neutrality goal.
This marks the third RNG contract for NW Natural under the landmark Oregon Senate Bill 98, which supports renewable energy procurement and investment by natural gas utilities.
Under the agreement, NW Natural will purchase the environmental attributes generated by Archaea related to up to one million MMBtu of RNG annually from its portfolio of RNG production facilities for a fixed fee for 21 years.
The agreement will commence early next year, with the full annual quantity beginning in 2025. The RNG produced by Archaea for this long-term partnership is expected to prevent methane emissions at US landfills and displace conventional natural gas.
“We are pleased to partner with NW Natural and look forward to our multi-decade business relationship,” said Archaea’s co-founder and CEO, Nick Stork.
“This agreement, our first with a US utility, is a testament to the strength of our commercial offerings and highlights our ability to help utilities provide lower-carbon options to their customers and achieve their sustainability goals.”
David Anderson, NW Natural’s president and CEO, said the company is “excited” to work with Archaea and that the agreement marks “another meaningful step” on the path to achieving its long-term carbon-neutrality goal.
This marks the third RNG contract for NW Natural under the landmark Oregon Senate Bill 98, which supports renewable energy procurement and investment by natural gas utilities.
