MCD McDonalds Corp

By Sabela Ojea

McDonald's Corp. said Thursday it is investing in a U.S solar energy facility and buying the solar energy it generates.

The fast food chain said it has signed its second solar-energy deal with London-based solar developer Lightsource bp to develop the facility, called the Prairie Ronde Solar project, in St. Landry, La.

Lightsource will be in charge of financing, building, owning and operating the facility, which is expected to produce annually about 327,000 megawatt-hours, or 630 restaurants' worth of renewable electricity, McDonald's said.

McDonald's expects construction to begin early this year and commercial operations to begin in late 2024 at the facility.

The project has received funds of at least $170 million and is projected to create about 250 construction jobs over a year and a half, McDonald's said.

"Prairie Ronde Solar will contribute to our climate aspirations while adding a considerable amount of new renewable generation to the grid," McDonald's director of global sustainability Elaine Strunk said.

In August 2021, McDonald's signed a previous deal with Lightsource to build and purchase power from a 345-megawatt solar energy facility, the Ventress Solar project, in Pointe Coupee Parish, La.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

February 16, 2023 12:58 ET (17:58 GMT)

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