RTX signs its largest renewable electricity deal to date

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RTX signs its largest renewable electricity deal to date with ENGIE, powering 12 Texas facilities with 100% renewable electricity. The agreement, running through 2033, aims to reduce greenhouse gas emissions and achieve renewable energy goals. The deal will provide over 1.5 million megawatt hours of renewable electricity, cutting emissions by 560,000 metric tons of CO2.

Positive

• RTX's agreement with ENGIE will significantly increase the company's usage of renewable electricity, nearly doubling the amount used in 2023.
• The deal will cover 12 RTX sites in Texas, with the largest site being the Raytheon facility in McKinney.
• RTX aims to achieve its 2025 goal of 10% renewable electricity and reduce greenhouse gas emissions by 46% by 2030.
• The agreement includes renewable energy certificates from ENGIE's Priddy Wind Project and other renewable electricity projects in Texas.
• Trio (formerly Edison Energy) played a key role as RTX's clean energy advisor in securing the deal.

Negative

• None.

Agreement with ENGIE will power 12 RTX sites in Texas

ARLINGTON, Va., April 18, 2024 /PRNewswire/ -- RTX (NYSE: RTX) announced an agreement with a subsidiary of ENGIE North America (ENGIE) that will provide 100% renewable electricity to 12 of the company's Texas facilities. The agreement with ENGIE Resources LLC, which runs through 2033, will begin with six RTX locations in Texas in 2024 and expand to 12 locations by 2028. The deal is RTX's largest renewable energy procurement to date, nearly doubling the company's usage of renewable electricity in 2023. 

"Increasing our use of renewable electricity is a core focus of RTX's strategy to reduce greenhouse gas emissions across our operations," said Annette McNeely, vice president, Environment, Health & Safety for RTX. "This agreement will put RTX on a pathway to achieve its 2025 goal of 10% renewable electricity and its 2030 goal to reduce greenhouse gas emissions by 46% from 2019 levels."

The agreement will provide more than 1.5 million megawatt hours of renewable electricity over the next 10 years, reducing RTX emissions by an estimated 560,000 metric tons of carbon dioxide—equivalent to the annual electricity usage of more than 100,000 homes. The largest site included in the agreement is RTX's Raytheon facility in McKinney, Texas, which produces high-energy lasers, sensors and radars. Under the agreement, the McKinney location will consume more than 55% of the total clean energy procured.

The agreement includes renewable energy certificates (RECs) from ENGIE's Priddy Wind Project, located in Mills County, Texas, for a small portion of RTX's forecasted load in 2024. The remainder of RTX's load for 2024 and beyond will be sourced with electricity and RECs from several ENGIE renewable electricity projects in Texas, primarily new projects. Trio (formerly Edison Energy) served as RTX's clean energy advisor on the agreement helping to identify, negotiate and secure the deal.

"Trio is proud of its collaboration with RTX and to have supported this innovative structure for retail-delivered renewable energy," said Joey Lange, senior managing director, Energy Supply Advisory at Trio. "This initiative was the result of a combined process between multiple business units to make a significant impact on RTX's decarbonization goals." 

About RTX
With more than 185,000 global employees, RTX pushes the limits of technology and science to redefine how we connect and protect our world. Through industry-leading businesses – Collins Aerospace, Pratt & Whitney, and Raytheon – we are advancing aviation, engineering integrated defense systems, and developing next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2023 sales of $69 billion, is headquartered in Arlington, Virginia. 

For questions or to schedule an interview, please contact corporatepr@rtx.com

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SOURCE RTX

FAQ

What is the significance of the agreement between RTX and ENGIE?

The agreement is RTX's largest renewable energy procurement to date, aiming to provide 100% renewable electricity to 12 Texas facilities.

How will the deal impact RTX's greenhouse gas emissions?

The agreement will reduce RTX emissions by an estimated 560,000 metric tons of carbon dioxide over the next 10 years.

Which RTX facility will consume the highest percentage of clean energy under the agreement?

The Raytheon facility in McKinney, Texas, will consume more than 55% of the total clean energy procured.

What role did Trio play in the agreement between RTX and ENGIE?

Trio served as RTX's clean energy advisor, helping to identify, negotiate, and secure the deal with ENGIE.

Where are the renewable energy certificates sourced from in the agreement?

The agreement includes RECs from ENGIE's Priddy Wind Project in Mills County, Texas, and other ENGIE renewable electricity projects in Texas.