EDF Renewables serves up 'virtual' power deal to green 1,200 US McDonald's outlets
Power purchase agreement linked to 332MW Apollo Solar facility scheduled for June 2024 commercial operation in Texas
EDF Renewables North America has sealed a 15-year virtual power purchase agreement (VPPA) with fast food giant McDonald’s Corporation for 332MW on a direct current basis to help it meet sustainability goals and advance a climate action commitment.
VPPAs allow corporate renewable buyers to commit to green energy without taking physical delivery of the electricity and are based on variable-priced cash flow and renewable energy certificates (RECs).
“McDonald’s [was] willing to provide the flexibility needed to bring the Apollo Solar Project to fruition during these uncertain times for the solar industry,” said Matt McCluskey, vice president development, south central region for EDF Renewables.
“Apollo Solar plays a significant role in our science-based emissions reduction target for 2030 and brings a considerable amount of new renewable generation to the grid,” added Elaine Strunk, senior director global sustainability, McDonald’s.
By 2030, the company aims to partner with franchisees to reduce greenhouse gas emissions related to McDonald’s restaurants and offices by 36% from a 2015 base year
EDF has consistently ranked among the top 10 developers and operators of renewable energy projects in the US during the last decade.
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