Procter and Gamble (P&G) unveiled today its largest solar energy agreement to date, announcing a 200 MW Power Purchase Agreement (PPA) with energy provider, ENGIE, at their Sun Valley Renewable Energy Project in Hill County, Texas.
The agreement will supply P&G with more than 530,000 MWh of renewable power per year, expected to displace the equivalent of more than 367,000 metric tons of CO2-equivalent from the electricity grid each year.
P&G stated that the agreement forms part of the company’s plans to accelerate action towards its net zero by 2040 target. The company unveiled its net zero goal last year, along with interim 2030 targets to reduce emissions across its operations by 50%, and across its supply chain by 40%.
Jack McAneny, P&G Vice President Global Sustainability, said:
“Partnering on new renewable power projects brings long-term, zero emissions renewable electricity on-line and is an important strategy to help us achieve our goal of purchasing 100% renewable electricity. We are excited to work with ENGIE on projects like Sun Valley that progress our strategy and provide benefits to the local community.”
The Sun Valley Solar project forms part of ENGIE’s more than 5 GW of wind, solar and storage in operation or construction across North America. Last year, ENGIE unveiled a major repositioning strategy, including plans for major investments in renewables and energy solutions, along with €9-10 billion of asset disposals. The company aims to annually add 3-4 GW through 2025, and anticipates reaching 80 GW of renewables capacity by 2030, with projects including onshore wind, offshore wind and solar across Europe, North America, and Latin America.
Dave Carroll, Chief Renewables Officer, ENGIE North America, said:
“These are long-term projects that will not only produce renewable power, but provide jobs, tax revenues and economic growth, and we are privileged that the Hill County community is part of this journey. We have activities in more than 100 counties across the U.S. and Canada – the energy transition is really one that will be powered by communities across the continent.”