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Scout Clean Energy Announces 12-Year Virtual Power Purchase Agreement with Zoetis Inc.

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Scout Clean Energy signs a 12-year Virtual Power Purchase Agreement with Zoetis Inc. for a 50 MW portion of its Heart of Texas Wind Farm, supporting Zoetis' goal of carbon neutrality by 2030. The agreement will generate Renewable Energy Certificates and contribute to reducing emissions as part of the RE100 initiative.
Scout Clean Energy ha firmato un accordo di acquisto di energia virtuale della durata di 12 anni con Zoetis Inc. per una porzione di 50 MW del suo parco eolico Heart of Texas, supportando l'obiettivo di Zoetis di raggiungere la neutralità del carbonio entro il 2030. L'accordo produrrà Certificati di Energia Rinnovabile e contribuirà alla riduzione delle emissioni nell'ambito dell'iniziativa RE100.
Scout Clean Energy ha firmado un Acuerdo de Compra de Energía Virtual de 12 años con Zoetis Inc. para una porción de 50 MW de su Parque Eólico Heart of Texas, apoyando el objetivo de Zoetis de alcanzar la neutralidad de carbono para el año 2030. El acuerdo generará Certificados de Energía Renovable y contribuirá a la reducción de emisiones como parte de la iniciativa RE100.
스카우트 클린 에너지는 텍사스 중심부 풍력 발전소의 50MW 부분에 대해 12년간의 가상 전력 구매 계약을 조에티스 인크와 체결하였으며, 이는 조에티스의 2030년까지 탄소 중립 목표를 지원합니다. 이 계약은 재생 에너지 인증서를 생성하고 RE100 이니셔티브의 일환으로 배출 감소에 기여할 것입니다.
Scout Clean Energy a signé un accord d'achat d'énergie virtuelle de 12 ans avec Zoetis Inc. pour une portion de 50 MW de son parc éolien Heart of Texas, soutenant l'objectif de Zoetis d'atteindre la neutralité carbone d'ici 2030. L'accord générera des Certificats d'Énergie Renouvelable et contribuera à la réduction des émissions dans le cadre de l'initiative RE100.
Scout Clean Energy hat eine 12-jährige Virtuelle Stromabnahmevereinbarung mit Zoetis Inc. für einen 50-MW-Teil seines Heart of Texas Windparks unterzeichnet, die das Ziel von Zoetis unterstützt, bis 2030 klimaneutral zu sein. Die Vereinbarung wird Erneuerbare-Energie-Zertifikate generieren und zur Emissionsreduktion im Rahmen der RE100-Initiative beitragen.
Positive
  • Scout Clean Energy secures a significant VPPA with Zoetis Inc. for a 50 MW portion of its Heart of Texas Wind Farm.
  • The agreement supports Zoetis' aim to achieve carbon neutrality by 2030.
  • Renewable Energy Certificates will be generated as part of the contract, aiding in reducing Zoetis' emissions.
  • The partnership highlights the commitment to sustainability in animal health and renewable energy procurement.
Negative
  • None.

BOULDER, Colo., April 18, 2024 /PRNewswire/ -- Scout Clean Energy (Scout), a Colorado-based renewable energy developer-owner-operator, is pleased to announce they have signed a Virtual Power Purchase Agreement (VPPA) with Zoetis Inc. for a 50-megawatt (MW) portion of Scout's operating Heart of Texas Wind Farm. This constitutes more than one-fourth of the total capacity of the 180 MW project, which produces enough electricity annually to power approximately 67,000 homes.

"We're proud to work with ambitious partners like Zoetis to find creative solutions for renewable procurement," said Michael Rucker, chief executive officer and founder at Scout. "Heart of Texas is an outstanding project and will deliver excellent value to Zoetis as it pursues carbon neutrality."

Heart of Texas, located in McCulloch County, was constructed in 2020 and is owned and operated by Scout, a portfolio company managed by Brookfield Asset Management, a global leader of renewable power and decarbonization solutions. The project supports the local economy through tax incentive agreements with McCulloch County, McCulloch County Hospital District, and Lohn Independent School District.

This VPPA is part of Zoetis' roadmap to achieve carbon neutrality in its own operations by 2030. The 12-year term contract will not only secure renewable energy, but also generate Renewable Energy Certificates (RECs) which will play a role in reducing Zoetis' emissions as part of the RE100 initiative.

"This partnership with Scout Clean Energy reflects our priority to advance sustainability in animal health for a better future," said Jeannette Ferran Astorga, Executive Vice President, Corporate Affairs, Communications and Chief Sustainability Officer at Zoetis. "Through this Virtual Power Purchase Agreement, we are not only securing renewable energy, but also advancing how we can reduce our carbon footprint."

About Scout Clean Energy 

Scout Clean Energy is a renewable energy developer and owner-operator headquartered in Boulder, Colorado with approximately 1,000 MW of operating and under construction wind assets, and a pipeline of over 19,000 MW of wind, solar and storage projects across 22 states, including more than 2,300 MW of advanced-stage projects. Scout has expertise in all aspects of renewables project development, permitting, power marketing, finance, construction, 24/7 operations, and asset management. Scout is a portfolio company of Brookfield, which acquired Scout at the beginning of 2023. For more information, please visit www.scoutcleanenergy.com

About Zoetis

As the world's leading animal health company, Zoetis is driven by a singular purpose: to nurture our world and humankind by advancing care for animals. After innovating ways to predict, prevent, detect, and treat animal illness for more than 70 years, Zoetis continues to stand by those raising and caring for animals worldwide – from veterinarians and pet owners to livestock farmers and ranchers. The company's leading portfolio and pipeline of medicines, vaccines, diagnostics and technologies make a difference in over 100 countries. A Fortune 500 company, Zoetis generated revenue of $8.5 billion in 2023 with approximately 14,100 employees. For more information, visit www.zoetis.com.

About Brookfield

Brookfield Asset Management (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with over $850 billion of assets under management. Brookfield invests client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. Brookfield offers a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

Brookfield operates Brookfield Renewable Partners (NYSE: BEP, BEPC TSX: BEP.UN, BEPC), one of the world's largest publicly traded, pure-play renewable power platforms, with approximately 31,800 megawatts of installed renewable energy capacity and a development pipeline of approximately 143,400 megawatts of renewable power assets, 14 MMTPA of carbon capture and storage, 2 million tons of recycled material and 4 million metric million British thermal units of renewable natural gas production annually.

Contact: Chad Thompson
chad@scoutcleanenergy.com
901.331.077

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/scout-clean-energy-announces-12-year-virtual-power-purchase-agreement-with-zoetis-inc-302120963.html

SOURCE Scout Clean Energy

FAQ

What is the Virtual Power Purchase Agreement between Scout Clean Energy and Zoetis Inc. about?

Scout Clean Energy has signed a 12-year VPPA with Zoetis Inc. for a 50 MW portion of its Heart of Texas Wind Farm.

How much electricity can the Heart of Texas Wind Farm produce annually?

The Heart of Texas Wind Farm can produce enough electricity annually to power approximately 67,000 homes.

Who is the chief executive officer and founder of Scout Clean Energy?

Michael Rucker is the chief executive officer and founder of Scout Clean Energy.

What is Zoetis Inc.'s goal in terms of carbon neutrality?

Zoetis Inc. aims to achieve carbon neutrality in its own operations by 2030.

What role do Renewable Energy Certificates play in reducing emissions for Zoetis Inc.?

Renewable Energy Certificates generated through the VPPA will contribute to reducing Zoetis Inc.'s emissions as part of the RE100 initiative.

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