In celebration of the Business Council for Sustainable Energy’s 30th Anniversary, the Solutions for a Net-Zero Economy interview series promotes the leadership and innovation of clean energy businesses and the membership of BCSE. Featured speakers will showcase the broad range of technologies available to achieve sustainability objectives and a net zero economy.
By Jeff Baudier, Chief Executive Officer, CORE Electric Cooperative
CORE Electric Cooperative is pleased to have joined the Business Council for Sustainable Energy this year to advocate for market-based approaches to clean energy policy. CORE is the largest electric distribution cooperative in Colorado, and one of the largest in the United States. As a cooperative, we stand out from other utilities by operating on a not-for-profit basis – earnings beyond expenses are invested in the infrastructure used to provide reliable electric service or booked as member equity. Some of this equity is typically returned to members each year as capital credit refunds.
CORE is also committed to delivering affordable clean energy to our customers. As such, we are thrilled to advance our sustainability and climate goals through our recent partnership with Invenergy – a leading privately-held developer, owner, and operator of sustainable energy solutions and another new BCSE member. Invenergy’s new wholesale power supply partnership will provide CORE with over 1.2 terawatt-hours of renewable energy per year, which includes approximately 400 megawatts (MW) of new solar and wind energy projects and 100 MW of battery storage, backed up by over 300 MW of existing reliable natural gas resources starting in 2026.
Invenergy brings extensive experience building flexible, sustainable energy solutions as one of the largest developers of clean and renewable energy projects in the world and has successfully developed seven projects currently in operation in Colorado. The power agreements cover a 20-year term between Invenergy and CORE.
Combined with CORE’s existing generating assets, these new agreements will supply the bulk of CORE’s wholesale energy needs. With this partnership, CORE will advance its objective of reducing carbon emissions by 80% by 2030 and create more flexibility to implement additional battery storage and other technologies in the future. It will also secure dispatchable resources to ensure service reliability. The portfolio will stabilize CORE’s costs to keep members’ rates among the lowest in Colorado for years to come.
These agreements pave the way for CORE’s future as the cleanest, most reliable, most affordable electric company in Colorado, and signal CORE’s transformation to a fully independent electric utility with control of its power supply future. My team at CORE is excited to grow our partnerships with Invenergy and BCSE as we work to advance the clean energy transition in Colorado and nationwide.