Gap Vows to Use 100% Clean Power as Wind, Solar Costs Fall

(Bloomberg) -- Add Gap Inc. to the roster of companies pledging to use 100% renewable energy.

The apparel retailer joins Apple Inc., Bank of America Corp., Anheuser-Busch InBev and dozens of others that have vowed to rely entirely on clean power -- or are already doing it -- as wind and solar have become some of the cheapest sources of energy. As part of its effort to hit 100% by 2030, Gap agreed to buy power from a wind farm that Enel SpA plans to build in North Dakota, the clothing company said in a statement Friday.

The 12-year deal calls for the San Francisco-based company to buy 90 megawatts from the Aurora wind farm in Williams and Mountrail counties in North Dakota. The project is expected to be operational by the end of 2020, according to the statement.

Terms were not disclosed. It’s the third clean-energy deal for Gap. Earlier this year the company signed a joint 42.5-megawatt renewable energy deal with Bloomberg LP, Cox Enterprises Inc., Salesforce.com Inc. and Workday Inc. Previously, the company signed a 20-year solar agreement with SunPower Corp. to power a distribution center in Fresno, California.

To contact the reporter on this story: Millicent Dent in New York at mdent13@bloomberg.net

To contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Joe Ryan, Pratish Narayanan

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