Ernst & Young to fund construction of windfarms in Texas

Jack Unwin 24 April 2019 (Last Updated April 24th, 2019 18:35)

Ernst & Young (EY) has announced that it will fund the construction of two large-scale windfarms in Texas through virtual power purchase agreements (VPPAs).

Ernst & Young to fund construction of windfarms in Texas
Enlight Renewable Energy to construct a new windfarm in Sweden. Credit: Fredlyfish4

UK-based multinational professional services group Ernst & Young (EY) has announced that it will fund the construction of two large-scale windfarms in Texas through virtual power purchase agreements (VPPAs).

The company claims that the two windfarms, which are expected to be operational by mid-2020, will generate enough clean energy to offset the greenhouse gas emissions of its US business.

EY Americas director of environmental sustainability Leisha John said: “These agreements actively address the environmental impact of our business and will become the cornerstone of our low carbon strategy, yielding significant economic and risk mitigation benefits.

“We are proud to join other leading organizations who believe we must harness our influence and scale to drive measurable progress for our planet and future generations. We hope it will inspire others to think of innovative ways they can contribute to a more sustainable environment.”

EY Americas deputy managing partner Michael Inserra added: “Environmental sustainability is an essential component of inclusive growth and we will continue to look for ways to measure and reduce the environmental impact of our business operations.”

The company also tweeted: “Creating a sustainable environment and future generations is critical. On this Earth Day, we are proud to announce the creation of two large-scale windfarms to help us become 100% renewable by 2020.”

The windfarms will be based in Texas, the leading US state for wind power.