Colgate-Palmolive inks 209-MW solar PPA with Scout

Colorado-based renewable energy company Scout Clean Energy has clinched a deal to sell electricity from a 209-MW solar park it will build in Texas to Colgate-Palmolive Co (NYSE:CL).

The parties have signed a power purchase agreement (PPA) for what will be Scout’s first greenfield solar photovoltaic (PV) project, the portfolio company of Brookfield Renewable said on Friday.

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The Markum solar park will be installed near the city of Waco in McLennan and Bosque Counties and will be capable of generating electricity for almost 32,200 homes in the ERCOT market. With its construction planned to begin this autumn, the plant is scheduled to kick off commercial operations by the end of next year.

"Markum paves the way for additional Scout-owned projects which are scheduled to commence construction over the next year," said CEO. Michael Rucker.

Colgate-Palmolive is a consumer products company focused on oral care, personal care, home care and pet nutrition. The owner of the Colgate, Palmolive and Protex brands, among others, is pursuing a goal of using 100% renewable electricity across its global operations by 2030 and achieving net zero carbon emissions by 2040.