Scout Clean Energy Announces 12-Year Virtual Power Purchase Agreement with Zoetis Inc.
BOULDER, Colo., April 18, 2024 /PRNewswire/ -- Scout Clean Energy (Scout), a Colorado-based renewable energy developer-owner-operator, is pleased to announce they have signed a Virtual Power Purchase Agreement (VPPA) with Zoetis Inc. for a 50-megawatt (MW) portion of Scout's operating Heart of Texas Wind Farm. This constitutes more than one-fourth of the total capacity of the 180 MW project, which produces enough electricity annually to power approximately 67,000 homes.
"We're proud to work with ambitious partners like Zoetis to find creative solutions for renewable procurement," said Michael Rucker, chief executive officer and founder at Scout. "Heart of Texas is an outstanding project and will deliver excellent value to Zoetis as it pursues carbon neutrality."
Heart of Texas, located in McCulloch County, was constructed in 2020 and is owned and operated by Scout, a portfolio company managed by Brookfield Asset Management, a global leader of renewable power and decarbonization solutions. The project supports the local economy through tax incentive agreements with McCulloch County, McCulloch County Hospital District, and Lohn Independent School District.
This VPPA is part of Zoetis' roadmap to achieve carbon neutrality in its own operations by 2030. The 12-year term contract will not only secure renewable energy, but also generate Renewable Energy Certificates (RECs) which will play a role in reducing Zoetis' emissions as part of the RE100 initiative.
"This partnership with Scout Clean Energy reflects our priority to advance sustainability in animal health for a better future," said Jeannette Ferran Astorga, Executive Vice President, Corporate Affairs, Communications and Chief Sustainability Officer at Zoetis. "Through this Virtual Power Purchase Agreement, we are not only securing renewable energy, but also advancing how we can reduce our carbon footprint."
About Scout Clean Energy
Scout Clean Energy is a renewable energy developer and owner-operator headquartered in Boulder, Colorado with approximately 1,000 MW of operating and under construction wind assets, and a pipeline of over 19,000 MW of wind, solar and storage projects across 22 states, including more than 2,300 MW of advanced-stage projects. Scout has expertise in all aspects of renewables project development, permitting, power marketing, finance, construction, 24/7 operations, and asset management. Scout is a portfolio company of Brookfield, which acquired Scout at the beginning of 2023. For more information, please visit www.scoutcleanenergy.com
About Zoetis
As the world's leading animal health company, Zoetis is driven by a singular purpose: to nurture our world and humankind by advancing care for animals. After innovating ways to predict, prevent, detect, and treat animal illness for more than 70 years, Zoetis continues to stand by those raising and caring for animals worldwide – from veterinarians and pet owners to livestock farmers and ranchers. The company's leading portfolio and pipeline of medicines, vaccines, diagnostics and technologies make a difference in over 100 countries. A Fortune 500 company, Zoetis generated revenue of $8.5 billion in 2023 with approximately 14,100 employees. For more information, visit www.zoetis.com.
About Brookfield
Brookfield Asset Management (NYSE:BAM, TSX:BAM) is a leading global alternative asset manager with over $850 billion of assets under management. Brookfield invests client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. Brookfield offers a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.
Brookfield operates Brookfield Renewable Partners (NYSE:BEP, TSX:BEP, BEPC))), one of the world's largest publicly traded, pure-play renewable power platforms, with approximately 31,800 megawatts of installed renewable energy capacity and a development pipeline of approximately 143,400 megawatts of renewable power assets, 14 MMTPA of carbon capture and storage, 2 million tons of recycled material and 4 million metric million British thermal units of renewable natural gas production annually.
Contact: Chad Thompson
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901.331.077
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SOURCE Scout Clean Energy