June 2010 - After three years being one of the largest corporate purchasers of renewable energy, PepsiCo did not renew its 3-year contract for 1.2 billion kilowatt-hours (kWh) of green power annually from Sterling Planet. Citing technology advancements and changes in incentives, PepsiCo decided to drop its primary renewable energy certificate (REC) purchase and will instead invest over $30 million dollars toward new renewable energy projects in the U.S. over the next three years. PepsiCo currently generates 159 million kWh of renewable energy annually. The company may continue to purchase a limited number RECs, for example, for LEED certification purposes.
News Article - PepsiCo Drops RECs in Favor of $30M in On-site Generation
Additional Information - 2009 PepsiCo Annual Environmental Sustainability