The estÉe lauder companies inc. signs a virtual power purchase agreement for the ponderosa wind farm in beaver county, oklahoma, adding renewable energy to the electricity grid

The estÉe lauder companies inc. has signed a virtual power purchase agreement (vppa) for the ponderosa wind farm in beaver county, oklahoma, adding renewable energy to the electricity grid. this agreement makes the estÉe lauder companies inc. the first prestige beauty company to execute a vppa and bolsters its renewable electricity footprint in the u.s. and canada. the vppa is the company’s large renewable energy contract globally. the ponderosa wind farm alone will cover more than half of the company’s global electricity footprint with renewable energy technologies, putting the company on target to meet its global 2020 net zero carbon emissions re100 commitment. the company announced it would build upon this existing net zero commitment and set a science-based target covering scopes 1, 2 and 3 by the end of 2020. through the company’s renewable energy solutions in its portfolio, the company has achieved 100% renewable electricity (re100) in the united states and canada ahead of schedule. under the vppa, the company will purchase the energy produced by 22 megawatts (mw) of the ponderosa wind farm, owned and operated by a subsidiary of nextera energy resources, which equates to approximately 10 wind turbines. the wind energy the company will buy from ponderosa is equivalent to powering more than 9,000 typical u.s. homes and will reduce fossil fuel emissions equivalent to removing more than 14,000 cars from the road annually. construction of the ponderosa wind farm is scheduled to begin in early 2020.
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