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Gap signs virtual power purchase agreement with Enel
18 Aug '19
3 min read
Pic: Gap
Gap has signed a 90 Megawatt (MW) virtual power purchase agreement (VPPA) for the Aurora Wind Project with Enel Green Power North America, marking one of the largest offsite renewable energy contracts by an apparel retailer. The company also announced its goal to reach 100 per cent renewable energy across its global owned and operated facilities by 2030.
The 12-year agreement is Gap’s latest renewable energy deal and will enable the company to reach its 2020 goal to reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions for its owned and operated facilities by 50 per cent compared to 2015, according to a press release.
Gap operates more than 3,300 stores worldwide, however, the vast majority of its distributed store fleet are leased sites located in buildings and malls owned by landlords, limiting the company’s ability to implement onsite renewable energy assets. The agreement with Enel Green Power allows Gap to meet its renewable energy goal by aggregating its distributed electricity load in the US and purchasing wind energy equivalent to the energy needs of over 1,500 retail stores in its global real estate portfolio. The agreement provides benefits both to the local grid by adding new clean generation, while also stabilising operating costs for Gap in the face of fluctuating energy prices.
The wind electricity output purchased by Gap from the 90 MW portion of Enel Green Power’s 299 MW Aurora project is expected to total approximately 374 gigawatt hours (GWh) each year. It will reduce GHG emissions equivalent to the carbon reduction of removing 60,000 passenger cars from the road annually.
Enel Green Power North America, a leading owner and operator of renewable energy plants with a managed capacity of over 5 GW, will build, own, and operate the Aurora Wind Project located in Williams and Mountrail counties in North Dakota. Once completed, the total project will be able to generate approximately 1.3 terawatt-hour (TWh) annually, while avoiding the emissions of around 880,000 tons of CO2 per year. The project is expected to enter operation by the end of 2020.
“We have a responsibility to reduce our climate impact. For Gap, being a part of the climate solution means making strategic investments in clean energy generation. Today, we have secured a path to achieving our 2020 goal, but we must do more. I’m proud to commit to renewable energy for 100 per cent of our stores, headquarters, and distribution centres globally by 2030,” Art Peck, president and chief executive officer, Gap said.
“This partnership with Gap demonstrates how global brands are increasingly turning to us for our extensive expertise in creating flexible and customised solutions that address unique renewable energy needs. With partnerships like this one, which create immediate returns while furthering emission reduction strategies, Enel Green Power once again reaffirms the strong bond between sustainability and value creation,” Antonio Cammisecra, global head of Enel Green Power said. (GK)
The 12-year agreement is Gap’s latest renewable energy deal and will enable the company to reach its 2020 goal to reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions for its owned and operated facilities by 50 per cent compared to 2015, according to a press release.
Gap operates more than 3,300 stores worldwide, however, the vast majority of its distributed store fleet are leased sites located in buildings and malls owned by landlords, limiting the company’s ability to implement onsite renewable energy assets. The agreement with Enel Green Power allows Gap to meet its renewable energy goal by aggregating its distributed electricity load in the US and purchasing wind energy equivalent to the energy needs of over 1,500 retail stores in its global real estate portfolio. The agreement provides benefits both to the local grid by adding new clean generation, while also stabilising operating costs for Gap in the face of fluctuating energy prices.
The wind electricity output purchased by Gap from the 90 MW portion of Enel Green Power’s 299 MW Aurora project is expected to total approximately 374 gigawatt hours (GWh) each year. It will reduce GHG emissions equivalent to the carbon reduction of removing 60,000 passenger cars from the road annually.
Enel Green Power North America, a leading owner and operator of renewable energy plants with a managed capacity of over 5 GW, will build, own, and operate the Aurora Wind Project located in Williams and Mountrail counties in North Dakota. Once completed, the total project will be able to generate approximately 1.3 terawatt-hour (TWh) annually, while avoiding the emissions of around 880,000 tons of CO2 per year. The project is expected to enter operation by the end of 2020.
“We have a responsibility to reduce our climate impact. For Gap, being a part of the climate solution means making strategic investments in clean energy generation. Today, we have secured a path to achieving our 2020 goal, but we must do more. I’m proud to commit to renewable energy for 100 per cent of our stores, headquarters, and distribution centres globally by 2030,” Art Peck, president and chief executive officer, Gap said.
“This partnership with Gap demonstrates how global brands are increasingly turning to us for our extensive expertise in creating flexible and customised solutions that address unique renewable energy needs. With partnerships like this one, which create immediate returns while furthering emission reduction strategies, Enel Green Power once again reaffirms the strong bond between sustainability and value creation,” Antonio Cammisecra, global head of Enel Green Power said. (GK)
Fibre2Fashion News Desk – India
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