ASU, PayPal team up to buy solar power

Arizona State University (ASU) and PayPal recently came together on a deal to buy renewable energy from the  newly opened Red Rock Solar Plant.

“The construction of Red Rock is a great example of how we partner with our commercial customers to find innovative and sustainable solutions that can help them realize their green energy goals,” Daniel Froetscher, senior vice president at the Arizona Public Service Energy Co., which owns Red Rock, said. “The cooperation between APS, ASU and PayPal demonstrates how the Arizona business community is committed to developing solar energy in a smart, cost-effective manner.”

Both ASU and PayPal were looking to reduce their carbon footprint, and the deal will allow ASU to expand its solar energy sourcing beyond the solar collectors on campus. PayPal will be able to keep up with its own energy demands while becoming more sustainable.

“We are very pleased that the Red Rock Solar Plant will more than double our solar generating capacity to more than 50 megawatts,” Morgan Olsen, ASU executive vice president, treasurer and chief financial officer, said. “This project enables us to expand our solar portfolio substantially with no initial capital investment and underscores our sustainability commitment."

Olsen said ASU now has 88 solar installations and expects solar energy to provide approximately 30 percent of its needs this year.

Red Rock is APS’s largest grid-scale solar power plant.

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Arizona Public Service Arizona State University

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