Nike just inked a big wind power deal in Texas

Source: By Anmar Frangoul, CNBC • Posted: Monday, January 22, 2018

Sportswear giant Nike has signed its second major wind power agreement with Avangrid Renewables.

The deal is for 86 megawatts of wind power from the Karankawa Wind Farm in Bee and San Patricio counties in Texas. Avangrid Renewables is a subsidiary of energy and utility business Avangrid and part of the Iberdrola Group.

“This agreement enables us to source 100 percent renewable energy across our owned or operated facilities in North America,” Hannah Jones, Nike’s chief sustainability officer and VP of its Innovation Accelerator, said in a statement Thursday. “Investing in renewable energy is good for athletes, the planet and for business.”

Under Nike’s other agreement with Avangrid Renewables, three wind farms deliver renewable energy to the company’s global headquarters in Oregon as well as almost all of its Oregon-based sites.

“Working with partners like Nike who have relentless focus on driving the development and availability of renewable energy is exciting and inspiring,” Barrett Stambler, Avangrid Renewables vice president of origination, said.

Nike is a member of RE100, a global initiative made up of some of the world’s biggest businesses that is committed to renewable electricity. The organization has set itself the target of sourcing 100 percent of its electricity from renewable sources of energy by the year 2025.