Scout Clean Energy, a Colorado-based renewable energy developer-owner-operator, has signed a power purchase agreement (PPA) with Colgate-Palmolive for power from Scout’s 209-MW DC Markum Solar Farm near Waco, Texas.
This fall Scout will begin and manage project construction. Markum will generate enough clean energy for the ERCOT grid to power approximately 32,200 homes.
“Virtual power purchase agreements (VPPAs) are a valuable part of our renewable energy master plan and will help us achieve our targets of net-zero carbon emissions by 2040 and 100% renewable electricity across our global operations by 2030,” says Ann Tracy, Colgate-Palmolive chief sustainability officer, in an announcement.
Markum is in both McLennan and Bosque Counties and is scheduled for delivery in 2024. The project will result in approximately 300 temporary construction jobs and three permanent full-time positions when the facility begins operation. Economic benefits to the community from new tax revenue over the life of the project are expected to be significant.
Scout Clean Energy is a portfolio company of Brookfield Renewable, a publicly traded, pure-play renewable power platform. Brookfield acquired Scout at the beginning of 2023, and Scout continues to execute on its significant growth plans.
Scout’s legal advisor was Stoel Rives LLP and Colgate-Palmolive’s legal advisor on the transaction was Morgan, Lewis & Bockius.
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