Lulumon Athletica Signs Power Purchase Agreement With Enel Green Power

Lulumon Athletica Inc LULU has signed a virtual power purchase agreement (VPPA) with Enel Green Power North America Inc, part of Enel S.p.A. ENLAY
The agreement will enable the apparel company to source 100% renewable electricity across its direct operations in North America by 2021.
Through the VPPA, lululemon will purchase the electricity delivered to the grid by a 15 MW portion of Enel Green Power's North America Azure Sky Wind Project in Texas.
The agreement is lululemon's first renewable energy VPPA.
Price Action: LULU shares are trading lower by 0.74% at $417.40 on the last check Wednesday.