Major Bet on Wind Energy

Citing a commitment to green energy, growing corporate demand and stable costs, an office owner/developer have made a major commitment to wind energy.Earlier this month, Foulger-Pratt Cos., an office owner and developer that focuses on the Washington, D.C., metropolitan area, committed to a purchase of 34 million kilowatt-hours of wind energy, in the form of Renewable Energy Credits, for each of the next two years. The agreement totals $325,000. The purchase will offset 54 million pounds of carbon, equal to removing 4,500 cars from the road, per year, and it will power 4.8 million square feet of office space in the firm’s portfolio.Office owners buy wind energy to qualify for LEED status for individual buildings, so the purchases are primarily one-off transactions, said Charles Segerman, CEO of Clean Currents L.L.C., Foulger-Pratt’s wind power supplier. The size of the owner/developer’s purchase, thus, is rare, he said. “Many owners are scared, thinking that green energy is expensive. Foulger-Pratt took the time and effort to become educated about wind energy.”Essentially, Foulger-Pratt will not see any cost savings from switching to wind, reported Foulger-Pratt principal Bryant Foulger, though wind power offers stable pricing compared with other sources. The move should also appeal to tenants. Many corporations express a preference for green buildings, especially in D.C., he said. “I don’t know if there is a greener city out there.”