Landmark Power Supply Partnership for CORE Electric Steered by Stinson Attorneys
Stinson LLP served as legal counsel to CORE Electric Cooperative, Colorado's largest electric distribution cooperative, in an innovative wholesale power supply partnership with Invenergy, a leading developer, owner and operator of sustainable energy solutions. The new partnership is expected to serve as the foundation for Colorado's energy transformation by exceeding emission goals and stabilizing retail electricity prices.
The 20-year agreement will provide CORE with more than 1.2 terawatt-hours of renewable energy that includes 400 megawatts (MW) of new solar and wind energy projects and 100 MW of battery storage, which is backed up by natural gas resources.
"The power purchase agreements between CORE and Invenergy combine to establish a true landmark in the evolution of CORE as a leading electric utility," Stinson Partner Perry Glantz said. "CORE is an outstanding organization with a bright future, and we are proud of the role we were able to play in bringing a deal together that will change the face of the electric market in Colorado."
The new partnership paves a path for CORE's future as one of the cleanest, most reliable and affordable electric companies in the state. The partnership also signals CORE's transformation to becoming a fully independent electric utility that controls its power supply future.
"With this partnership, CORE will advance its objective of reducing carbon emissions by 80% by 2030, creating more flexibility to implement additional battery storage and other technologies in the future, and also securing dispatchable resources to ensure service reliability," CORE CEO Jeff Baudier said. "We are grateful for the support Stinson's legal team provided us, allowing us to forge a landmark arrangement that benefits the electric market and CORE members for years to come."
Read about CORE's landmark power supply partnership with Invenergy on CORE's website.