McDonald's Signs Power Purchase Agreement for Wind and Solar Energy

CNBCNovember 8, 201920

Summary:

McDonald’s has two power purchase agreements for sources of renewable energy that are generated by wind and solar energy projects in Texas.

Main Article:

McDonald’s has inked two power purchase agreements which will see the fast food giant buy sources of renewable energy generated by wind and solar energy projects in Texas.

In an announcement Thursday McDonald’s described the agreements as “long term” and “large scale.” Construction on both projects is set to start over the next few months.

The firm said that the combined source of renewable energy generated from its contribution to the projects was expected to come to 380 megawatts (MW). While the energy will not be routed directly to McDonald’s restaurants or offices, it will nevertheless add to the total sources of renewable energy available to the grid. McDonald’s said energy produced by the facilities would equate to more than “2,500 restaurants-worth of electricity.”

The wind energy portion of the deal will amount to 220 MW and come from Aviator Wind West, which is part of the larger, 525 MW Aviator Wind project in Coke County. Facebook is also purchasing around 200 MW of energy from the Aviator Wind East part of the scheme. McDonald’s did not reveal the name of the solar energy project.

“These U.S. wind and solar projects represent a significant step in our work to address climate change, building on years of renewable energy sourcing in many of our European markets,” Francesca DeBiase, who is the chief supply chain and sustainability officer at McDonald’s, said in a statement.

McDonald’s has said it wants to cut greenhouse gas emissions related to its restaurants and offices by 36 percent by 2030, from a 2015 baseline.

It has also committed to a 31% cut in emissions intensity per metric ton of food and packaging across its supply chain by 2030 compared to 2015. The goals have been approved by the Science Based Targets Initiative.

McDonald’s joins a number of major U.S. firms signing sources of renewable energy deals.

Last month Amazon announced three sources of renewable energy projects, including its first in Scotland. The tech giant said the facilities would provide energy to its Amazon Web Services data centers.

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