Today Nestlé announces it is investing in Taygete I, a 2,000-acre solar project owned and developed by 7X Energy in Pecos County, Texas, United States. This is Nestle's largest direct investment (by capacity) in a renewable energy project to date. With this investment, the solar project will add 250 MWac of solar electricity to the U.S. grid.
In addition to its direct investment, Nestlé will purchase 100% of the renewable electricity attributes generated by the project's energy production, estimated to be 750,000 megawatt hours per year for 15 years.
This announcement follows Nestle's unveiling of its detailed, time-bound plan to achieve net zero (pdf, 10 Mb) greenhouse gas (GHG) emissions on December 03. The phased approach aims to halve the company's emissions by 2030 and realize net zero by 2050.