Kraft Heinz Inks Power Purchase Pact With Berkshire Hathaway Energy Business

  • Kraft Heinz Co 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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