RTX Inks Largest Renewable Electricity Agreement: 'On Path To Achieve 2025 Goal'

Zinger Key Points
  • RTX inks renewable energy supply agreement with ENGIE Resources.
  • ENGIE to provide 100% renewable electricity to 12 of RTX's Texas facilities.

Aerospace and defense conglomerate RTX Corp RTX has entered into an energy supply agreement with a subsidiary of ENGIE North America, ENGIE Resources LLC (ENGIE).

What Happened: ENGIE will provide 100% renewable electricity to 12 of RTX’s Texas facilities.

The agreement with ENGIE runs through 2033. It will begin this year with six RTX locations in Texas and expand to 12 locations by 2028.

Why It Matters: The deal is RTX’s largest renewable energy procurement to date, nearly doubling its renewable electricity usage in 2023. 

The arrangement will provide more than 1.5 million megawatt hours of renewable electricity over the next 10 years.

This will slash RTX emissions by an estimated 560,000 metric tons of carbon dioxide, equivalent to the annual electricity usage of more than 100,000 homes.

Under the agreement, the McKinney location will consume more than 55% of the total clean energy procured.

“This agreement will put RTX on a pathway to achieve its 2025 goal of 10% renewable electricity and its 2030 goal to reduce greenhouse gas emissions by 46% from 2019 levels," said vice president, Environment, Health & Safety, Annette McNeely.

Price Action: RTX shares are trading higher by 0.21% at $100.96 in premarket on the last check Thursday.

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs
Posted In: NewsGeneralBriefsRenewable energyStories That Matter
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...