MCD McDonalds Corp

By Kimberly Chin

McDonald's Corp. (MCD) said Thursday it has agreed to purchase renewable energy from two large-scale wind and solar projects in Texas, signifying one of the many moves the fast-food chain is undertaking to reduce its global carbon footprint.

The company said it has signed a virtual-power purchase agreement with Aviator Wind West, a wind-power project based in Coke County, Texas, as well as with a solar project that's also located in the state.

McDonald's said the renewable-energy agreements will help prevent more than 700,000 metric tons of carbon emissions from entering the atmosphere each year, and the energy generated from these projects will be equivalent to "over 2,500 restaurants worth of electricity," the company said in a release.

The Chicago company expects the two renewable-energy deals to deliver a 6% reduction in greenhouse gas emissions from its 2015 baseline.

Moreover, the food company said the projects will bring more than $200 million in tax revenue to the local areas, and create about 600 new short-term construction, operations and maintenance jobs, as well as 13 long-term jobs for the communities.

Last year, McDonald's agreed to set a greenhouse gas emissions reduction target that would cut carbon emissions by 36% from McDonald's restaurants and offices by 2030.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

November 07, 2019 14:16 ET (19:16 GMT)

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