November 8 (Renewables Now) - US fast-food chain McDonald's Corporation (NYSE:MCD) has signed an off-take contract to buy 220 MW of wind power produced in Texas.
Specifically, McDonald’s has entered into a virtual power purchase agreement (PPA) with Aviator Wind West, a portion of the 525-MW Aviator Wind project, which is being developed by Apex Clean Energy in Coke County and owned by funds managed by Ares Management Corporation (NYSE:ARES).
Under the terms of the contract, which is the first one for McDonald’s involving wind energy, the fast-food chain will buy electricity equivalent to the annual consumption of about 1,300 company-owned restaurants. McDonald’s targets a 36% reduction of the greenhouse gas emissions related to its restaurants and offices by 2030.
Once completed in 2020, Aviator Wind will be the largest single-phase project in ERCOT and the largest single-phase, single-site project in the country. Apex Clean Energy will deliver both construction and asset management services for the wind farm, which is expected to generate some USD 140 million (EUR 126.7m) in tax revenue for the local economy.
In early September, social media giant Facebook (NASDAQ:FB) announced it has signed a 200-MW PPA tied to the Aviator Wind East portion of the same complex.
(USD 1.0 = EUR 0.905)