Chipotle Mexican Grill has entered into an agreement with Nexamp to purchase renewable energy bill credits to support the construction and operation of 15 new community solar farms generating 75 MW in Illinois, New York, Maryland and Maine. Under the agreement, Chipotle will receive credits associated with 20 MW from the portfolio of projects, while the remaining 55 MW will provide hundreds of thousands in savings to approximately 9,000 families, non-profits and other businesses across those markets.
By committing as a long-term subscriber for the credits generated by these projects, Chipotle’s investment makes the design, construction and completion possible, ensuring that progress continues in the modernization and decarbonization of the grid while helping thousands of households reduce their annual electricity expenses. This initiative aligns with Chipotle’s objective of making a real impact for communities, people and the planet, as well as its goal to reduce greenhouse gas emissions and support renewable energy development.
“Some of our nation’s largest and most recognized brands are looking at community solar as a critical part of their environmental stewardship strategies, often combining it with rooftop solar, energy efficiency and other programs that contribute to a holistic sustainability plan,” said Zaid Ashai, CEO of Nexamp. “Chipotle is furthering its leadership in this area by investing in solutions that will both address the climate crisis and bring long-term benefits to real individuals.”
Over the course of this agreement, Chipotle will save up to approximately a quarter-million dollars per year.
“As a brand on a mission to Cultivate a Better World, community solar projects are a winning solution to further our sustainability efforts while making a real impact to individuals in communities across the country, many of whom are our guests,” added Laurie Schalow, chief corporate affairs and food safety officer at Chipotle.
E4, an energy and sustainability consulting firm in Chicago, assisted with the transaction.
Construction of the projects in this portfolio is underway and all sites are expected to come online by 2026. Nexamp will build, own and operate all the projects.
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