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Deals & Dealmakers

WS Development Announces NE Portfolio to be Powered by Renewable Electricity

WS Development, one of Massachusetts’ leading real estate developers, today announced a deal to purchase energy from NRG Energy, Inc brand Direct Energy Business. The purchase will reduce the greenhouse gas emissions of WS’s New England energy portfolio to zero.  The collaboration includes eight buildings in Boston’s Seaport District and 35 of WS Development’s New England properties, including Legacy Place in Dedham and The Street in Chestnut Hill where WS is headquartered. This initiative will reduce CO2 emissions by nearly 120 million pounds, equivalent to approximately 146 million miles driven by an average passenger vehicle.  

The extraordinary steps taken by WS Development to reduce carbon emissions for its properties is based on a 7-year power agreement comprising approximately 14 million KWh. This will reduce the portfolio’s greenhouse gas emissions related to electricity consumption by 100%.

“We are proud to contribute to a more sustainable and verdant future for our region and our planet with this major commitment to renewably generated power,” said Yanni Tsipis, Senior Vice President at WS Development, who leads the Boston Seaport and Fenway projects. “This commitment speaks directly to our team’s carbon neutrality goals by reducing greenhouse gas emissions from our portfolio so our residents, retailers, and researchers can share in our commitment to a carbon-free footprint.”

“We are pleased to help WS Development reach their sustainability goals and reduce their carbon footprint across the company’s New England properties,” said Scott Hart, Head of Sales, NRG Business. “At NRG, we are committed to providing our customers with innovative solutions that propel us toward a more sustainable future.”

Chief among WS’s eight Seaport buildings that will benefit from the renewable power purchase is One Boston Wharf Road project, a 707,000 square-foot building in the Seaport whose office component is fully leased to as part of the company’s Boston Tech Hub. One Boston Wharf Road is currently under construction and will upon completion be Boston’s largest net-zero carbon office building. Additional buildings within WS’s Seaport development powered by renewable electricity from NRG include 400 Summer Street, the future global headquarters of Foundation Medicine, 111 Harbor Way, and the One Seaport retail complex. Additional WS properties across Massachusetts powered by renewable electricity from NRG include Legacy Place in Dedham and The Street in Chestnut Hill.

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