Colgate-Palmolive Co. has signed a 209-megawatt virtual power purchase agreement (VPPA) with Scout Clean Energy, a portfolio company of Brookfield Asset Management, to purchase renewable electricity.

Under the terms of the 20-year deal, Colgate will purchase renewable energy generated and delivered to the electricity grid from Scout’s Markum Solar Farm, which is located outside of Waco, Texas, and slated to be operational in 2025. Once the deal goes into effect, Scout is expected to produce the equivalent of 100% of the Colgate’s U.S.-based operational electricity needs. Financial terms of the agreement were not announced.

“Colgate is committed to making progress towards our ambitious net zero goals, and we are pursuing this important priority through innovative and diverse ways that are proven and measurable,” said Ann Tracy, Colgate chief sustainability officer. “Renewable energy agreements 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.”

About Colgate-Palmolive
Founded in 1806, Colgate-Palmolive is a New York-based manufacturer and distributor of household, healthcare, and personal products. For more information, visit www.colgatepalmolive.com.