May 4, 2007—PepsiCo, one of the world’s largest food and beverage companies, announced that it is buying more than 1.1 billion kilowatt-hours of renewable energy credits (RECs) annually for the next three years, reportedly the largest-ever corporate purchase of green power.
RECs represent the renewable attributes of the electricity generated by renewable power facilities. When those facilities sell their power into the electrical grid without taking credit for their renewable energy benefits, the facilities are able to sell those benefits to others in the form of RECs.
The purchase catapulted PepsiCo to the top of the EPA top-25 list of green power purchases, displacing Wells Fargo & Company, which had claimed the top spot earlier this year. It also placed the nation’s top companies well on their way toward the EPA’s Fortune 500 Green Power Challenge to exceed 5 billion kilowatt-hours of green power purchases by the end of this year, with roughly 4 billion kilowatt-hours bought to date.
For more information, visit the PepsiCo Web site.
