Avista Signs New Renewable Natural Gas Contract
Portfolio Pulse from Happy Mohamed
Avista has signed a contract with Pine Creek RNG to purchase renewable natural gas (RNG) from the Bayview Landfill in Utah, with production expected to start in 2024. Avista has also contracted with other Pine Creek projects, including the Horn Rapids Landfill and Lamb Weston's potato processing plant in Richland, and the Black Hawk County Landfill in Iowa. The total output of the Pine Creek projects contracted with Avista is expected to be 6.7 million therms annually. The projects support Avista's goals to reduce natural gas emissions by 30% by 2030 and to be carbon neutral in natural gas operations by 2045.
July 13, 2023 | 4:25 pm
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POSITIVE IMPACT
Avista's new contract with Pine Creek RNG for renewable natural gas supports its sustainability goals and could enhance its reputation and market position in the renewable energy sector.
The contract with Pine Creek RNG allows Avista to increase its renewable energy portfolio, which aligns with its sustainability goals and could enhance its reputation among environmentally conscious investors. This could potentially lead to increased demand for its shares, positively impacting its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100