La-Z-Boy inks long-term renewable energy deal with AEP Energy Partners

Thursday, 22 April, 2021

  • La-Z-Boy (LZB -0.5%) finalized a 10-year resource-backed virtual power purchase agreement extending through the end of 2030, with AEP Energy Partners, energy subsidiary of American Electric Power.
  • The company’s VPPA will support ~70K MWh of renewable energy annually, from AEP’s principally owned Santa Rita East wind energy center in Irion County, Texas, throughout the agreement term.
  • La-Z-Boy will receive renewable energy certificates equivalent to ~16 MW of wind power capacity representing more than 90% of its current total annual domestic energy consumption.
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