Sunya Get smarter about energy transition
  • Home
  • Industry News
  • Newsletter
  • Podcast
  • Contact Us
Sunya
Industry News
November 7, 2024

H&M Group signs solar PPA with Lightsource bp for 125 MW project in Texas

Newsfeed
H&M Group signs virtual power purchase agreement with Lightsource bp – enabling the construction of new, renewable energy infrastructure in Texas

31 October, 2024

For several years, H&M Group has been exploring ways to contribute to adding more renewable electricity into the world’s power grids. For example, in the form of Power Purchase Agreements (PPAs) with solar and wind farms. H&M Group and global solar leader Lightsource bp announced their partnership in 2021, committing to a multi-year power contract for projects that are contributing to the growth of the renewable sector. Following this commitment, H&M Group signed a virtual power purchase agreement (VPPA) with Lightsource bp for its 125MW Second Division solar project in Texas, U.S. The project will provide local renewable energy, playing an important role in reducing H&M Group’s carbon footprint.

The solar farm is currently under construction in Brazoria County. The project will deliver electricity into the local grid, supporting with the local energy independence and security, while reducing carbon dioxide emissions by an estimated 155,000 metric tons each year.

Considering fashion’s environmental impact, we see great value in moving away from just using certificates to contributing to more clean energy. By partnering with solar and wind farm developers, we can help build renewable electricity capacity in power grids around the world.

Ulrika Leverenz, Head of Green Investment, H&M Group

Acknowledging that keeping global warming within 1.5°C requires a vast scale-up of renewable electricity capacity, H&M Group is actively supporting the global need to transition to fully renewable systems. At the same time, the group continues its work towards sourcing 100% renewable electricity in its own operations no later than 2030 and achieving net-zero emissions by 2040. This also includes the group’s target for ≥50% of that renewable electricity to come from power purchase agreements (PPAs) with new renewable electricity generation. These will increase the renewable electricity generation capacity on electrical grids in markets where H&M Group operates.

Corporate energy buyers with sustainability goals such as H&M are not only making a meaningful positive impact on our environment. They are enabling the construction of new, home-grown lower carbon energy infrastructure that supports energy diversification, grid reliability, and local economies.

Helen Brauner, Interim Chief Operating Officer, Lightsource bp USA

The project in Texas aims to be operational by the end of 2024. From then on, the Second Division solar farm will deliver enough electricity to power an estimated 20,500 U.S. homes each year, while lowering carbon emissions — the equivalent of taking 33,300 fuel burning cars off the road. In line with H&M Group’s mission to approach climate and nature holistically, Lightsource bp also considers the project’s impact on biodiversity. The constructed solar farm infrastructure takes up less than 10% of the land, enabling the planting of site-specific grasses and other vegetation under and around the solar panels, with a goal of increasing biodiversity in the first 5 years of operation. Additionally, the project will integrate agriculture in the form of sheep grazing.

TAGS: #industrynews
PREVIOUS ARTICLES
Home > Industry News
November 7, 2024

University of Oklahoma to Lead Oklahoma Carbon Hub

NEXT ARTICLES
Home > Industry News
November 8, 2024

Trafigura signs long-term natural gas agreement with NuVista Energy

Comments are closed.
Related Post
April 23, 2024
GEF Capital Partners completes final closing on
May 8, 2025
Commonwealth LNG Signs 20-Year Sale and Purchase
August 6, 2024
IFC and Citi to support sustainable supply
April 10, 2025
J.P Morgan Asset Management’s Campbell Global Announces

Recent Posts

  • Woodside and Aramco Sign Collaboration Agreement
  • Google – Our first-of-its-kind partnership for clean energy has been approved in Nevada.
  • Aemetis Biogas Signs $27 Million Agreement with Centuri to Build Gas Cleanup Systems for 15 Dairy Digesters
  • Kayne Anderson Announces $2.25 Billion Final Close on Its Largest Ever Energy Private Equity Fund
  • GLENCORE TO OFFTAKE 2 MTPA OF LNG FROM COMMONWEALTH LNG’S EXPORT FACILITY IN CAMERON PARISH, LOUISIANA

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023

Categories

  • Industry News
  • Newsletter
  • Podcast
Scroll To Top
© Copyright 2024 Sunya Technologies Inc.