White Cap Strengthens its Renewable Energy Commitment

Source: www.gulfoilandgas.com 6/20/2024, Location: North America

White Cap, a leading distributor of specialty construction supplies and safety products for professional contractors, has agreed to offtake the majority of the annual clean energy generated by a 114 MW solar facility under construction in Lamar County, Texas, through a 10-year Virtual Power Purchase Agreement (VPPA).

A VPPA is a financial transaction that supports the development of new renewable energy generation assets. This VPPA is made by possible by ENGIE Energy Marketing NA, Inc., a subsidiary of ENGIE SA (ENGIE), a global reference in low-carbon energy and services. The project is anticipated to begin in 2025, subject to customary risks associated with construction project timelines.

This new investment in solar energy demonstrates White Cap's ongoing commitment to sustainable construction. As part of its commitment, White Cap has invested in internal projects and processes to reduce emissions and energy use, retrofitted several facilities with energy-efficient LED lighting, and taken other steps to create sustainable operations. Learn more about White Cap's commitments, and its work to realize these commitments, at about.whitecap.com.

"As the largest North American distributor of specialty construction supplies with approximately 450 locations and 10,000 employees, White Cap has a responsibility to minimize our environmental impact," said Alan Sollenberger, CEO of White Cap. "Working with like-minded organizations such as ENGIE and Transparent Energy allows White Cap to make our commitment to a more sustainable future a reality."

"ENGIE is proud to work with White Cap in strengthening its commitment to renewable energy and sustainable construction," said Ken Robinson, president of ENGIE Energy Marketing NA. "This transaction is representative of ENGIE's commitment to collaborating with its clients to build a more sustainable future."

Located approximately 90 miles northeast of Dallas in Lamar County, Texas, and owned by funds managed by AB CarVal, the Tyson Nick Solar Project is under construction for 114MW of capacity. The North Texas renewable asset is ideally situated to generate clean, renewable power that can serve the equivalent of over 15,000 households. The project is expected to reach commercial operations in 2025.

White Cap retained Transparent Energy, a national leader in energy procurement, as its renewable energy advisor for this deal.

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