By Kathryn Hardison

 

McDonald's Corp. and EDF Renewables North America have signed a 15-year virtual power purchase agreement that is expected to help the fast-food restaurant company meet its sustainability goals.

The project, called Apollo Solar, is expected to begin delivery of low carbon electricity in June 2024 in Texas. Once complete, the project is expected to generate 619,000 megawatt hours of low-carbon energy annually, which is enough to meet the needs of over 1,200 U.S. McDonald's restaurants.

EDF Renewables said about 300 jobs are expected to be created during the construction phase beginning next year, with more than $30 million generated in new tax revenue over the operating life for taxing entities.

Apollo Solar will produce clean energy while minimizing impacts to wildlife, habitat and other environmental resources.

 

Write to Kathryn Hardison at kathryn.hardison@wsj.com

 

(END) Dow Jones Newswires

September 13, 2022 12:36 ET (16:36 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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