Benzinga | Sep 15, 2021 12:27PM EDT

Lulumon Athletica Signs Power Purchase Agreement With Enel Green Power

* Lulumon Athletica Inc (NASDAQ:LULU) has signed a virtual power purchase agreement (VPPA) with Enel Green Power North America Inc, part of Enel S.p.A. (OTC: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.