Constellation purchases minority stake in Pine Creek renewable gas facilities

Constellation Energy Corporation (NASDAQ: CEG) announced it has acquired a minority equity interest in five renewable natural gas production facilities operated by Pine Creek RNG. The facilities, located in Washington, Utah, Iowa and Illinois, currently produce approximately 1.5 million MMBtus of renewable natural gas annually.

The agreement establishes a framework for the companies to develop an additional 3.0 million MMBtus of annual renewable natural gas production capacity. Constellation will market the gas production and environmental attributes from the facilities.

"This agreement reinforces Constellation's long-term commitment to expanding sustainable natural gas solutions that help customers decarbonize without compromising reliability," said Jim McHugh, Senior Executive Vice President and Chief Commercial Officer at Constellation.

Pine Creek RNG develops, owns and operates renewable natural gas production assets that convert biogas from sources including landfills, wastewater treatment plants, and agricultural waste digesters into pipeline-quality natural gas.

Constellation describes itself as the largest private-sector power producer globally and the nation's largest clean energy producer. The Baltimore-based company operates 55 gigawatts of capacity from nuclear, natural gas, geothermal, hydro, wind and solar facilities.

Pine Creek RNG is a division of Pine Creek Renewables and is headquartered in St. Petersburg, Florida. The company focuses on converting raw biogas sources into low-carbon fuels across multiple U.S. locations.

The information is based on a press release statement from the companies.

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