In the quest for a cleaner, more sustainable future, Scout Clean Energy, a renewable energy developer based in Colorado, has recently forged a significant power purchase agreement (PPA) with Colgate-Palmolive. This agreement will provide Colgate-Palmolive with power from Scout’s impressive 209-MW DC Markum Solar Farm, located near Waco, Texas.

Set to commence this fall, Scout will oversee all aspects of project construction and management. The Markum Solar Farm, when operational, is projected to generate an abundant supply of clean energy for the ERCOT grid, making a substantial difference in powering approximately 32,200 homes.

At the heart of this collaboration lies Colgate-Palmolive’s commitment to environmental sustainability. Ann Tracy, the company’s chief sustainability officer, stated, “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.” This partnership with Scout Clean Energy aligns perfectly with their ambitious objectives.

The Markum Solar Farm spans both McLennan and Bosque Counties and is anticipated to be completed by 2024. During the construction phase, the project will create employment opportunities, generating around 300 temporary construction jobs. Once operational, the facility will support three permanent full-time positions. Moreover, the project’s positive contribution will extend beyond direct employment, with significant economic benefits anticipated for the community through new tax revenue throughout the project’s lifespan.

Scout Clean Energy, a portfolio company of Brookfield Renewable, the leading publicly traded, pure-play renewable power platform, continues to exemplify its commitment to growth and clean energy initiatives. Following Brookfield’s acquisition of Scout at the start of 2023, Scout is well-positioned to fulfill its ambitious expansion plans.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The solar energy market is highly volatile, and readers should conduct thorough research before making any investment decisions.