Archaea Signs 5-Year Renewable Natural Gas Agreement with UGI Utilities
Archaea Energy Inc., an industry leading renewable natural gas (RNG) company, said on Wednesday it has entered a medium-term RNG purchase and sale agreement with Pennsylvania-based natural gas and electric company UGI Utilities Inc.
Under the agreement, which was recently signed and received the necessary regulatory approvals, UGI Utilities will purchase 331,785 MMBtu of RNG generated by Archaea annually from its Assai RNG facility for a fixed fee for a period of five years. Deliveries under the agreement commenced on July 1, 2022.
UGI Corporation is a distributor and marketer of energy products and services, including natural gas, liquified petroleum gas, electricity and renewable energy solutions.
“We believe this partnership is the first step toward additional, longer-term commercial offtake opportunities with Pennsylvania utilities that can utilize our RNG to reduce their environmental footprints and enhance their sustainability,” said Brian McCarthy, Archaea’s co-founder, chief investment officer, and interim CFO.
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