Common Contracts
1 similar Virtual Power Purchase Agreement contracts
La-Z-Boy Signs Long-Term Renewable Energy DealVirtual Power Purchase Agreement • September 1st, 2023
MONROE, Mich., April 21, 2021 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, has finalized a 10-year resource-backed virtual power purchase agreement (VPPA), extending through the end of 2030, with AEP Energy Partners, a competitive energy subsidiary of American Electric Power (Nasdaq: AEP). The agreement signifies a meaningful initiative as La-Z-Boy expands its environmental programs in its quest to reduce its carbon footprint. La-Z-Boy’s VPPA will support approximately 70,000 MWh of renewable energy per year, from AEP’s principally owned Santa Rita East wind energy center in Irion County, Texas, throughout the term of the agreement. Once fully implemented, La-Z-Boy will receive renewable energy certificates (REC) equivalent to roughly 16 MW of wind power capacity representing more than 90% of La-Z-Boy’s current total annual domestic energy consumption.
