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Benzinga
Benzinga
Business
Shivani Kumaresan

Kraft Heinz Inks Power Purchase Pact With Berkshire Hathaway Energy Business

Kraft Heinz United States KHC Berkshire Hathaway Inc Kraft Heinz Co Nasdaq NYSE Renewable Energy Electricity Texas
  • Kraft Heinz Co (NASDAQ:KHC) has signed a virtual power purchase agreement with BHE Renewables, a Berkshire Hathaway Inc (NYSE: BRK-A) Energy business.
  • Under the agreement, BHE will provide power from renewables to Kraft Heinz's operations within the U.S.
  • The facilitation is part of Kraft Heinz's aim to procure most of its electricity from renewable sources by 2025.
  • The company plans to purchase renewable energy from BHE Renewables to offset more than 15% of the energy usage at its U.S. manufacturing sites and expects to increase it to 60% by 2025-end.
  • The renewable energy is planned to come from BHE Renewables' 158-megawatt Gopher Creek wind farm in Scurry County, Texas.
  • Price Action: KHC shares are trading higher by 1.09% at $38.14 on the last check Wednesday.
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