Performance Food Group Announces Community Solar Project as Next Step in Renewable Energy Procurement

Rhea-AI Summary

Performance Food Group Company (PFGC) has announced a collaborative community solar project with EDPR NA Distributed Generation in New Vineyard, Maine. This 2.25 megawatt project, set to generate 3,000 megawatt-hours of renewable energy annually, aims to enhance PFG's energy efficiency and reduce its carbon footprint. The initiative is expected to save 365 metric tons of emissions each year and facilitate PFG's goal of procuring 10% of its energy from renewable sources by 2030. The project signifies PFG's commitment to corporate responsibility and sustainable energy practices.

Positive

• Collaboration with EDPR NA supports renewable energy goals.
• Project will reduce carbon emissions by 365 metric tons annually.
• Anticipated generation of 3,000 megawatt-hours of renewable energy per year.
• Supports PFG's goal of sourcing 10% of energy from renewables by 2030.

Negative

• None.

Performance Food Group Company (PFG) (NYSE:PFGC) announced a community solar project as the next step in delivering on its commitment to renewable energy procurement. This effort is in collaboration with EDPR NA Distributed Generation, a subsidiary of EDP Renewables North America that delivers a full suite of offerings from financing and development to construction and operation of energy and storage assets poised to scale.

Through this collaborative endeavor in New Vineyard, Maine, and over the 20-year term of the agreement, PFG will purchase power generated from the 2.25 megawatt project, estimated at 3,000 megawatt-hours annually. The project is anticipated to begin generating power in 2022.

“We are excited about this collaboration and how it will help PFG reduce the intensity of our power consumption and increase energy efficiency,” said PFG Chairman, President & CEO George Holm. “Energy management is an important part of PFG’s corporate responsibility focus. Being able to procure a larger portion of our total energy from renewable resources will reduce our carbon footprint – supporting a healthy environment and thriving communities.”

The project is expected to allow PFG to avoid 365 metric tons of emissions annually, which addresses more than 80 percent of the power usage at its Performance Foodservice – NorthCenter location in Augusta, Maine. The renewable power generated annually by this project represents 2,103 metric tons of avoided CO₂ emissions, 206,590 gallons of diesel not consumed, and the equivalent carbon sequestered by 2,746 acres of forest.

Among PFG’s climate-related goals is procuring 10 percent of its consumed power from renewable energy by 2030. The company continues to explore additional opportunities with the longtime advisor to its energy management portfolio, Schneider Electric, ranked the most sustainable corporation by the Corporate Knights in 2021.

About Performance Food Group Company

Built on the many proud histories of our family of companies, Performance Food Group is a customer-centric foodservice distribution leader headquartered in Richmond, Virginia. Grounded by roots that date back to a grocery peddler in 1885, PFG today has a nationwide network of over 100 distribution facilities, thousands of talented associates and valued suppliers across the country. With the goal of helping our customers thrive, we market and deliver quality food and related products to over 200,000 locations including independent and chain restaurants, schools, business and industry locations, healthcare facilities, vending distributors, office coffee service distributors, big box retailers, theaters and convenience stores. Building strong relationships is core to PFG’s success – from connecting associates with great career opportunities to connecting valued suppliers and quality products with PFG’s broad and diverse customer base. To learn more about PFG and Performance Foodservice, visit pfgc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210707005594/en/

FAQ

What is the recent solar project announced by Performance Food Group (PFGC)?

PFGC announced a community solar project in collaboration with EDPR NA, aimed at generating 3,000 megawatt-hours of renewable energy annually.

How will the solar project impact PFGC's carbon footprint?

The solar project is expected to reduce carbon emissions by 365 metric tons each year, significantly lowering PFGC's environmental impact.

What are PFGC's renewable energy goals for 2030?

PFGC aims to procure 10% of its total energy from renewable sources by 2030.

When will the solar project begin generating power?

The project is anticipated to start generating power in 2022.

How much energy will the community solar project generate?

The project is expected to generate approximately 3,000 megawatt-hours of renewable energy annually.