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Scout Clean Energy's first solar leap: Brookfield-backed energy platform inks PPA with Colgate-Palmolive

Mohit Kaul's picture
Founder, Enerdatics

Building Enerdatics. Leadership experience in a high growth SaaS company and secured a successful exit. A natural leader who cares about creating value for all stakeholders. Extensive experience...

  • Member since 2022
  • 203 items added with 57,718 views
  • Sep 18, 2023
Colgate-Palmolive, a leading household product manufacturer, has recently entered into a 20-year virtual power purchase agreement (PPA) with Scout Clean Energy for the 209 MW Markum solar project in Texas. This groundbreaking agreement enables Colgate-Palmolive to meet the electricity needs of its entire US operations by sourcing power from the project, which will be integrated into Texas' ERCOT transmission network. Construction of the solar farm is scheduled to commence in the fall of 2023 and is projected to be finalized by the end of 2024. This partnership represents a significant milestone for Scout Clean Energy's first solar development project and perfectly aligns with the renewable energy objectives of its parent company, Brookfield. As a global leader in renewable energy, Brookfield is dedicated to meeting the growing demand for corporate power purchase agreements (PPAs) in the United States. In September 2022, Brookfield made a strategic investment of $1bn to acquire Scout Clean Energy, as part of its $6.4bn investment in the US renewables sector. This acquisition included other prominent platforms such as Standard Solar, Urban Grid, and Duke Energy Renewables.

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