Colgate-Palmolive Inks 209-MW Solar PPA
- Scout Clean Energy has signed a 209-MW Power Purchase Agreement (PPA) to supply solar energy to Colgate-Palmolive Co. Markum solar park will provide electricity for 32,200 homes in Texas, with construction beginning in the fall and operations starting in 2021. This PPA fulfills Colgate-Palmolive's goal of 100% renewable energy globally by 2030.
Scout Clean Energy has signed a Power Purchase Agreement (PPA) to provide 209-MW of solar energy to Colgate-Palmolive Co (NYSE:CL). The Markum solar park will be located near the city of Waco, Texas, and is expected to provide electricity for 32,200 homes in the ERCOT market. Construction of the solar park is scheduled to begin this autumn, with commercial operations kicking off by the end of 2021. The PPA marks the first greenfield solar photovoltaic (PV) project for Scout, a portfolio company of Brookfield Renewable. Colgate-Palmolive has set a goal of using 100% renewable energy globally by 2030 and achieving net zero carbon emissions by 2040. The PPA supports Colgate-Palmolive’s renewable energy ambitions while providing Scout with the opportunity to expand its green energy portfolio.
What Benefits Does Colgate-Palmolive's PPA With Scout Bring?
The Benefits of Colgate-Palmolive's PPA With Scout Include:
- Supports Colgate-Palmolive's ambitious goal of using 100% renewable energy by 2030 and achieving net zero carbon emissions by 2040
- Markum solar park will provide electricity for 32,200 homes in the ERCOT market, leading to a reduction in carbon emissions
- Enhances Scout's portfolio of green energy projects
- Allows for the creation of new jobs in the green energy sector
- Supports the development of solar power in the region
