Hudson Pacific Properties Inc. said all of its electricity consumption is carbon-neutral following a three-year renewable energy agreement with Calpine Energy Solutions LLC.
Under the deal, the office real estate investment trust bought the environmental attributes related to 577,000 MWh from Horse Hollow III Wind Farm in Wingate, Texas. The REIT said the deal should offset its greenhouse gas emissions by roughly 121,500 metric tons of carbon dioxide within the next three years across its 53 office and three studio properties spanning more than 16.5 million square feet in California's Silicon Valley; Los Angeles; San Francisco; Seattle; and Vancouver, British Columbia.
The REIT added that the deal advances its goal of achieving or even surpassing its greenhouse gas emissions reduction target of 15% by 2025.
