EDF RE ANNOUNCES PARTNERSHIP WITH PROCTER & GAMBLE
PROCTER & GAMBLE TO PRODUCE AMERICA'S ICONIC HOUSEHOLD BRANDS WITH 100% WIND POWER
We are thrilled to announce our partnership with Procter & Gamble (P&G). EDF RE will be developing, operating and maintaining the 123 MW Tyler Bluff Wind Project located in Cooke County, Texas that will enable P&G to run all of its North American Fabric & Home Care plants with renewable electricity.
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The 12-year Power Purchase Agreement (PPA) was secured by OwnEnergy, Inc. and executed concurrently with EDF RE's acquisition of OwnEnergy in August 2015.
Jacob Susman, Founder and CEO of OwnEnergy and VP, Head of Origination for EDF RE, said "Corporations are increasingly looking for ways to reduce their carbon footprint without increasing long-term operating costs and one of those methods is by signing a long-term energy contract with a wind farm. We are excited about EDF REs meaningful share of the corporate purchasing market and expect to see a lot more of these deals take place over the next several years."
Tristan Grimbert, CEO and President of EDF RE, adds "One of our goals in acquiring OwnEnergy was to bolster our capabilities to better serve the commercial and industrial segment of green power off-takers. With the addition of P&G, the combined companys contracts with corporate purchasers will represent approximately 20% of brand name corporations that have signed long-term U.S. wind purchase contracts announced so far this year."
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