One sentence summary – Scout Clean Energy, a portfolio company of Brookfield Renewable, has partnered with Colgate-Palmolive to purchase power from Scout Clean Energy’s Markum Solar Farm in Texas, which will generate clean energy for the ERCOT grid and power approximately 32,200 homes, while also creating temporary and permanent jobs and bringing economic growth to the community.
At a glance
- Scout Clean Energy and Colgate-Palmolive have entered into an agreement for the purchase of power from Scout Clean Energy’s Markum Solar Farm in Texas.
- The energy generated from the project will be sufficient to power approximately 32,200 homes.
- Construction of the Markum Solar Farm is set to begin in the fall of 2023 and is expected to be completed by the end of 2024.
- The project will create around 300 temporary construction jobs and support three permanent full-time positions.
- The collaboration will contribute to Scout Clean Energy’s expansion of their clean energy portfolio and provide economic benefits to the community through tax revenue.
The details
Scout Clean Energy, a portfolio company of Brookfield Renewable, has entered into an agreement with Colgate-Palmolive.
The agreement involves the purchase of power from Scout Clean Energy’s Markum Solar Farm in Texas.
This partnership is set to contribute to the generation of clean energy for the ERCOT grid.
Energy Generation
The energy produced will be sufficient to power approximately 32,200 homes.
Construction and Jobs
Construction of the Markum Solar Farm is slated to begin in the fall of 2023.
The project is expected to be completed by the end of 2024.
During the construction phase, the project will create around 300 temporary construction jobs.
This will provide a boost to the local economy.
Once operational, the project will support three permanent full-time positions.
The project is expected to have a significant economic impact on the community.
New tax revenue generated over the life of the project is expected to be substantial.
This revenue will bring economic growth and development to the area.
Scout Clean Energy’s legal advisor for this transaction was Stoel Rives LLP.
Colgate-Palmolive was represented by Morgan, Lewis & Bockius.
Scout Clean Energy was acquired by Brookfield Renewable at the beginning of 2023.
The company has plans to initiate construction on additional projects over the next year.
This shows their commitment to expanding the production of clean energy.
It also demonstrates their contribution to a more sustainable future.
Collaboration and Benefits
The collaboration between Scout Clean Energy and Colgate-Palmolive for the Markum Solar Farm will result in the generation of clean energy for thousands of homes.
The project will create both temporary and permanent jobs.
It will provide economic benefits to the community through tax revenue.
Finally, it will contribute to Scout Clean Energy’s ongoing efforts to expand their clean energy portfolio.
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| solarpowerworldonline.com |
|---|
| – Scout Clean Energy has signed an agreement with Colgate-Palmolive to purchase power from its Markum Solar Farm in Texas. – |
| The Markum Solar Farm will generate enough clean energy for the ERCOT grid to power approximately 32,200 homes. – Construction of the project is set to begin in fall 2023 and is targeted to be completed by the end of 2024. – |
| The project will create around 300 temporary construction jobs and three permanent full-time positions. – |
| The economic benefits to the community from new tax revenue over the life of the project are expected to be significant. – Scout Clean Energy is a portfolio company of Brookfield Renewable, which acquired Scout at the beginning of 2023. |
| – Scout plans to commence construction on additional projects over the next year. |
| – Scout’s legal advisor for the transaction was Stoel Rives LLP, while Colgate-Palmolive’s legal advisor was Morgan, Lewis & Bockius. |
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