Enel Green Power North America Signs Agreement With Lululemon To Achieve 100 Percent Renewable Electricity Goal For Lululemon's Direct Operations In North America
BOSTON, Sept. 15, 2021 -- Enel Green Power North America, Inc. today announced the signing of a virtual power purchase agreement (VPPA) with lululemon athletica inc. (NASDAQ:LULU), enabling the athletic apparel company to achieve its goal of sourcing 100 percent renewable electricity across its direct operations in North America by 2021. Through the VPPA, which was facilitated by LevelTen Energy, lululemon will purchase the electricity delivered to the grid by a 15 MW portion of Enel Green Power's North America Azure Sky Wind project in Texas, equivalent to the electricity used by all of lululemon's company-operated stores, offices and warehouse facilities in North America. The agreement is lululemon's first renewable energy VPPA and underscores the company's investment to fueling its Impact Agenda.
"As increasingly more retailers work to address the circularity of their operations, from product design and manufacturing to packaging and end-of-life, industry leaders like lululemon are also prioritizing renewable energy as a centerpiece of their climate and sustainability efforts," said Georgios Papadimitriou, Head of Enel Green Power in the US and Canada. "The agreement with lululemon also demonstrates how companies with a distributed operational footprint can leverage solutions like VPPAs to achieve their emissions reduction goals, while also supporting the addition of new renewable energy to the electric grid."
Through the VPPA lululemon will meet its renewable energy goals by aggregating the electricity load across 100 percent of their company-operated stores, offices and distribution centers in North America and purchasing wind energy equivalent to the electricity needs of their operational footprint. For its operations globally, lululemon will achieve 100 percent renewable electricity through renewable energy credits while continuing to look for opportunities to support net new renewable energy development in the regions they operate in. lululemon was advised on the VPPA by LevelTen Energy, which leveraged its Energy Marketplace and PPA analytics to assist the company in its project selection and negotiations.
Today's announcement helps lululemon achieve its RE100 commitment by 2021 and make progress against its Impact Agenda goals which include Science-based Targets by 2030. lululemon's Impact Agenda, launched in October 2020, details the company's strategy to become a more sustainable and equitable business, and outlines its vision to minimize environmental impact and contribute to a healthier world.
"lululemon is committed to helping create an apparel industry that is both sustainable and inclusive, and addresses the serious implications of climate change, including working toward a net-zero future and cutting carbon emissions across our value chain," said Esther Speck, VP Sustainable Business and Impact, lululemon. "Science clearly shows the urgent need to act now. That's why, among others, we've partnered with Enel Green Power North America to accelerate the transition to renewable energy and reduce our emissions footprint. This agreement is an important milestone on our journey toward cleaner energy and a healthier planet."
Located west of the Dallas-Fort Worth area in Throckmorton County, Texas, the Azure Sky Wind and Storage project includes a 350 MW wind project paired with approximately 137 MW of battery storage and is expected to be operational in the first half of 2022. The project – consisting of 79 wind turbines – is being constructed in accordance with Enel Green Power's North America Sustainable Design and Construction model and is expected to generate over 1,300 GWh each year, which will be delivered to the grid and will charge the battery located in the same facility. The battery storage system will be capable of storing the power generated by the wind turbines, while also providing services to enhance grid flexibility. At around 137 MW, the system will be one of the largest battery storage facilities in the world.
Enel Green Power North America is a leading developer, long-term owner and operator of renewable energy plants in North America, with a presence in 15 US states and one Canadian province. The company operates 60 plants with a managed capacity of over 6.7 GW powered by renewable wind, geothermal and solar energy.
Enel Green Power®, within the Enel Group, is dedicated to the development and operation of renewables across the world, with a presence in Europe, the Americas, Asia, Africa and Oceania. Enel Green Power® is a global leader in the green energy sector with a managed capacity of around 50 GW across a generation mix that includes wind, solar, geothermal and hydropower, and is at the forefront of integrating innovative technologies into renewable power plants.
lululemon athletica inc.
lululemon athletica inc. (NASDAQ:LULU) is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and most other sweaty pursuits, creating transformational products and experiences which enable people to live a life they love. Setting the bar in technical fabrics and functional designs, lululemon works with yogis and athletes in local communities for continuous research and product feedback. For more information, visit LULULEMON.COM.
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SOURCE Enel Green Power North America