From Aspen Skiing Company:
In 2012 Aspen Skiing Company partnered with Oxbow’s Elk Creek Mine, Holy Cross Energy, and Vessels Carbon Solutions to convert waste methane from a coal plant in Somerset, Colorado into usable electricity, reducing greenhouse gas emissions and generating financial return along the way. To demonstrate the success of this project, ASC released a report telling the story of how this came about, and what the results have been. The mine produces 3 megawatts of baseload power, which is as much energy as ASC uses annually at all four of its resorts, including hotels and restaurants. The electricity generated and the carbon offsets flow into the utility grid, not to ASC directly, greening the entire regional grid. Since this project started, it has prevented the emission of 250 billion cubic feet of methane annually into the atmosphere – mitigating a huge problem when it comes to global warming. This is equivalent to removing 517,000 passenger vehicles from the road for a year. On the financial front, this methane-to-electricity project produces between $100,000 and $150,000 in revenue per month from electricity and carbon credit sales to Holy Cross Energy. After nearly ten years, ASC has only about $750,000 remaining to pay off it’s initial investment of $5.34 million.
Click here to download the report.
From The Aspen Times (Scott Condon):
Skico on track to recoup $5.3 million investment, provide model for climate progress
Aspen Skiing Co. says its plant that converts methane from a coal mine into electricity has proven to be an environmental and economic success since it opened in November 2012.
Skico this week released the first progress report on the plant at the Elk Creek Mine at Somerset, which is in Gunnison County on the west side of McClure Pass. The company invested $5.34 million on the clean-energy technology with an expectation of recouping the funds within 10 to 15 years. The report said Skico has only $750,000 outstanding on its initial investment after the eight full years the facility has operated.
The project generates between $100,000 to $150,000 in revenue per month from electricity and carbon credit sales to Holy Cross Energy, the report said.
The financial success is critical to getting the project replicated. Skico released the report, in part, to help stoke interest in other such efforts as part of the effort to reduce global warming. It’s an example of how a company can make a difference in solving the climate crisis, Skico officials said. The plant captures methane and converts it into electricity.
“Aspen Skiing Company’s methane project passes two tests of meaningful climate action,” the progress report said in its conclusion. “First, it’s at a large, not a token, scale. And second, it is a high profile, replicable model for others. While it is not a comprehensive market or policy solution, it illuminates a path in that direction and is an example of what one company can do to make a difference.”