GHG Emissions, Commercial, Solar - November 6, 2024
H&M Group Adds Texas Solar Farm
H&M Group signed a virtual power purchase agreement that enables the construction of new, renewable energy infrastructure in Texas.
For several years H&M Group has been exploring ways to contribute to adding more renewable electricity into power grids via power purchase agreements (PPAs) with solar and wind farms.
H&M Group and global solar leader Lightsource bp announced their partnership in 2021, committing to a multi-year power contract for projects that are contributing to the growth of the renewable sector.
Following that commitment, H&M Group signed a virtual power purchase agreement (VPPA) with Lightsource bp for its 125-MW Second Division solar project in Brazoria county, Texas. The project will provide local renewable energy, playing an important role in reducing H&M Group’s carbon footprint.
The solar farm is currently under construction and will deliver electricity into the local grid while reducing carbon dioxide emissions by an estimated 155,000 metric tons each year. The project in Texas aims to be operational by the end of 2024.
“Considering fashion’s environmental impact, we see great value in moving away from just using certificates to contributing to more clean energy. By partnering with solar and wind farm developers, we can help build renewable electricity capacity in power grids around the world,” said Ulrika Leverenz, Head of Green Investment, H&M Group, in a statement.
H&M Group continues its work towards sourcing 100% renewable electricity in its own operations no later than 2030 and achieving net zero emissions by 2040. This also includes the group’s target for over 50% of that renewable electricity to come from power purchase agreements (PPAs) with new renewable electricity generation. These will increase the renewable electricity generation capacity on electrical grids in markets where H&M Group operates.
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