Benzinga | Jun 3, 2021 08:26AM EDT

Goodnight MIdstream Announces Execution Of 100% Renewable Energy Contract With Vista Corp's TXU Energy

As part of its ongoing efforts to reduce greenhouse gas emissions, Goodnight Midstream LLC ("Goodnight"), a leading midstream produced-water infrastructure company, today announced that it has signed a 100 percent renewable energy contract with TXU Energy, a premier retail electricity provider serving residential and business customers across Texas. This contract will provide renewable energy-backed water takeaway for Goodnight's customers.

TXU Energy will secure certified renewable Texas wind resources to cover Goodnight's energy usage. Over the contract's lifetime, approximately 72.5 million kilowatt hours of certified clean renewable energy will be supplied to Goodnight's system, which according to the EPA is equivalent to reducing nearly 29,000 metric tons in CO2 emissions.

Priority Power Management ("PPM"), an independent energy services provider offering smart energy solutions and streamlined transitions to carbon neutrality, served as lead advisor and represented Goodnight Midstream in negotiations with TXU Energy on this certified renewable energy contract.

"Pipelines and related facilities remain the most environmentally conscious way to transport resources across the country. This deal was a natural fit for us, allowing us to continue to prioritize executing the highest standards in ESG across our business operations," said Patrick Walker, Chief Executive Officer of Goodnight. "TXU Energy's extensive renewables network will continue to be essential and PPM's experience of implementing creative and cost effective renewable and micro-grid solutions has been invaluable in helping us structure the contract. We look forward to continuing to work strategically together so we can keep moving significantly closer to our long-term sustainability goals."

"We're thrilled to partner with a company as forward-thinking and dedicated to minimizing its environmental impact as Goodnight Midstream," said John Bick, Chairman and Chief Commercial Officer at PPM. "The company recognizes the win-win nature of investing in renewable energy from both an environmental and commercial perspective, and they are trailblazers for a growing wave of businesses starting the energy transition process. PPM is uniquely positioned to package renewable energy deals for clients, but it all starts with a company like Goodnight to make a true commitment to sustainability."

"Powering Goodnight Midstream's extensive network of pipelines requires reliable, cost-effective electricity," said Gabe Castro, Senior Vice President of Business Markets for TXU Energy. "We are proud to have been able to leverage our renewable experience and expertise to develop a solution that not only supports Goodnight's unique operational needs, but also bolsters their industry-leading work to reduce environmental impact with 100% clean wind energy."