Commercial, Solar, Sourcing Renewables - February 9, 2024
Toyota Boshoku America Signs REC Purchase Agreement
Toyota Boshoku America, Inc. (TBA), a global automotive interior systems supplier, announced the signing of a 12-year agreement to purchase renewable energy certificates (RECs).
The RECs, which Toyota will purchase a portion of, are generated from the recently completed Texas Solar Nova 1 solar farm located in Kent County, Texas. This is the first of a two-phased 452 MW solar complex developed by Clearway Energy Group (Clearway).
This 12-year REC agreement provides TBA with RECs generated by the project every year starting in 2026.
The agreement is the company’s first renewable energy procurement at scale in the U.S. and will enable the company to offset 100% of its annual electricity consumption in its U.S. and Canada facilities.
It will also help TBA make significant strides towards its target to reduce Scope 1 and Scope 2 greenhouse GHG by 100% by 2035 from a 2019 base year.
“TBA is thrilled to reach this agreement with Clearway for renewable energy certificates. One of our core values as a company is to do what is right and contribute to society. A significant part of this value is to ensure we are doing our part to protect the environment for generations to come. This contract along with other activities we continue to undertake show our on-going commitment to achieve carbon neutrality by 2050,” said Ryan Hunt, TBA Vice President of Production Control, in a statement.
RECs generated from this solar farm will be listed with the Center for Resource Solutions (CRS), so they will meet all requirements for certification pursuant to the Green-e Renewable Energy Standard for the U.S. and Canada.
Schneider Electric, an advisor on corporate renewable energy procurement, supported the company in the selection of and negotiations for the project.
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