Tuesday, January 29, 2008

Intel boosts Green Power stocks

CHIP-MAKER Intel has moved to boost its Green credentials by becoming the largest corporate buyer of Green power in the United States.

The US Environmental Protection Agency latest Green Power Partners Top 25 list puts Intel in the number one position.

Intel also announced yesterday that it would purchase more than 1.3 billion kilowatt-hours a year of renewable energy certificates as part of a broad plan to reduce its impact on the environment.

The company said it hoped the record-setting purchase would help stimulate the market for green power, which should lead to additional generating capacity and ultimately, lower costs.

Renewable energy certificates, or RECs, are the “currency” of the renewable energy market and are widely recognised as a having credible and tangible environmental benefits.

Intel's REC purchase includes a portfolio of wind, solar, small hydro-electric and biomass sources.

“We have a long history of commitment to the environment and energy efficiency is an important consideration in everything we do, from building transistors to designing microprocessors and running our factories,” said Intel president and chief executive Paul Otellini.

Mr Otellini, who is also a member of the Copenhagen Climate Council, a global group of leaders working to achieve an effective global climate treaty at next year's UN Environmental Summit in Copenhagen, said the renewable purchase was just one part of a multi-faceted approach to protect the environment.

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