Scout Clean Energy secures VPPA with Zoetis for Texas wind farm
Scout Clean Energy, a prominent Colorado-based renewable energy developer-owner-operator, has recently entered into a significant agreement with Zoetis Inc. The partnership involves a Virtual Power Purchase Agreement (VPPA) for a 50-megawatt (MW) portion of the Heart of Texas Wind Farm, representing over one-fourth of the project’s total 180 MW capacity.
This VPPA marks a crucial step in Zoetis Inc.’s strategy to achieve carbon neutrality in its operations by 2030. Under the 12-year term agreement, Zoetis will not only secure a substantial amount of renewable energy but will also generate Renewable Energy Certificates (RECs), which are essential for reducing emissions under the RE100 initiative. “This partnership with Scout Clean Energy reflects our priority to advance sustainability in animal health for a better future,” stated Jeannette Ferran Astorga, Executive Vice President, Corporate Affairs, Communications, and Chief Sustainability Officer at Zoetis.
The Heart of Texas Wind Farm, located in McCulloch County and constructed in 2020, is a significant asset owned and operated by Scout, which is managed by Brookfield Asset Management. The project not only contributes to the local economy through tax incentive agreements with McCulloch County, the McCulloch County Hospital District, and the Lohn Independent School District but also supports the broader push towards decarbonization solutions globally.
“We’re proud to work with ambitious partners like Zoetis to find creative solutions for renewable procurement,” said Michael Rucker, CEO and founder of Scout. He emphasized that the Heart of Texas project would deliver exceptional value to Zoetis as the company moves towards its goal of carbon neutrality.
The VPPA between Scout Clean Energy and Zoetis Inc. demonstrates a growing trend of cross-sector collaborations in the pursuit of renewable energy solutions and carbon neutrality. Such agreements not only bolster the renewable energy sector but also allow companies like Zoetis to meet their environmental commitments effectively. This deal is a clear indication of the strengthening link between corporate sustainability strategies and large-scale renewable energy projects, providing a replicable model for other companies aiming to reduce their carbon footprint through strategic renewable energy investments.