As reported by EnergyTech, SBT's sibling publication in Endeavor Business Media, power producer EDF Renewables North America has signed a 15-year virtual power purchase agreement (VPPA) with McDonald’s, which will help the fast-food chain meet its sustainability goals.
The project is expected to generate 619,000 MWh of low-carbon energy per year once it is complete. This will be sufficient for the electricity needs of more than 1,200 McDonald’s outlets in the U.S.
EDF stated that the decarbonization effects of the agreement will be equivalent to avoiding more than 439,000 metric tons of CO2 emissions per year.
“We applaud McDonald’s for taking action on climate change and are honored to partner with them to address their restaurant electricity carbon footprint. Through the purchase of clean energy from Apollo Solar, McDonalds will be able to reduce GHG emissions in support of their sustainability goals while the project construction phase will provide the local community with a boost to the economy through job creation, local spending with vendors, and an expanded tax base.
It’s been a great pleasure to work with a counterparty such as McDonald’s who is willing to provide the flexibility needed to bring the Apollo Solar Project to fruition during these uncertain times for the solar industry. EDF Renewables is committed to continuing its successful partnerships with corporate and industrial customers who have emerged as large buyers of renewable energy.”
-- Matt McCluskey, VP development, South Central Region, EDF Renewables
“We are thrilled to add EDF Renewables and the Apollo Solar project to our U.S. renewable energy portfolio as part of our continued commitment to climate action. 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. Together with EDF Renewables, this project furthers our shared goal of making a more sustainable planet for generations to come.”-- Elaine Strunk, sr. director global sustainability, McDonald’s