PLANO, Texas--(BUSINESS WIRE)--Oct. 29, 2018--
USA, Inc., a wholly-owned subsidiary of Cinemark Holdings, Inc.
(NYSE: CNK), one of the world’s largest motion picture exhibitors, has
entered into a nine-year virtual power purchase agreement (VPPA) with
AEP Energy Partners, a competitive energy subsidiary of American
Electric Power (NYSE: AEP). Cinemark’s VPPA will support up to 40
megawatts of renewable energy from AEP’s Trent Mesa wind energy center
in Nolan County, Texas. Once fully implemented, the 40 megawatts of
power from Trent Mesa will produce renewable energy equivalent to the
approximate power consumption of 120 Cinemark theatres or nearly 14,000
homes. Cinemark will receive renewable energy certificates (REC) for the
40 MW of wind power capacity representing approximately 38 percent of
Cinemark’s current total annual domestic energy consumption.
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Cinemark's VPPA will support up to 40 megawatts of renewable energy from AEP's Trent Mesa wind energy center in Nolan County, Texas. (Photo: Business Wire)
In addition to this new agreement, Cinemark continues to deploy energy
efficiency projects including HVAC retrofits, rooftop solar panel
installations, as well as interior and exterior LED retrofits.
“We remain committed to reducing our carbon footprint through both
onsite and offsite renewable energy projects,” said Mark Zoradi,
Cinemark’s CEO. “This new virtual power purchase agreement between
Cinemark and AEP is the next step in our ongoing efforts.”
“We are pleased to partner with Cinemark to support clean, renewable
energy resources,” said Greg Hall, president, AEP Energy Partners. “AEP
Energy Partners is committed to providing innovative competitive energy
solutions for our customers, and this agreement will help Cinemark
achieve its corporate sustainability goals.”
ABOUT CINEMARK HOLDINGS, INC.:
Cinemark is a leading domestic and international motion picture
exhibitor, operating 539 theatres with 5,998 screens in 41 U.S. states,
Brazil, Argentina and 13 other Latin American countries as of June 30,
2018. For more information, go to investors.cinemark.com.
ABOUT AEP ENERGY PARTNERS:
AEP Energy Partners is a competitive wholesale electricity and natural
gas supply provider owned by American Electric Power (NYSE: AEP)
supplying wholesale electricity and natural gas solutions for customers
in ERCOT, MISO, PJM, and SPP currently across 15 states.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181029005490/en/
Source: Cinemark USA, Inc.
Cinemark Holdings, Inc.
Chanda Brashears, 972-665-1500
Melissa McHenry, 614-716-1120