H&M Group forms a renewable energy agreement with Matrix Renewables

Renewable energy platform, Matrix Renewables has entered a long-term partnership with Swedish clothing giant, H&M Group. The collaboration seeks to help the European consumer products sector continue to decarbonize.

The goal for the brand is to become climate positive by using 100 percent renewable energy in its own operations, as well as growing renewable energy use with partners and suppliers.

Luis Sabaté, President and COO of Matrix Renewables, said that clothing and textile production can be energy and carbon-intensive. They’re thrilled to assist H&M in attaining its sustainability goals, and they look forward to working closely with the fashion business as it moves forward on this journey.

Sabaté added that this initiative is consistent with their belief that the development, construction, and operation of cost-effective clean energy projects can encourage economic growth while also protecting the environment.

Matrix Renewables, founded in 2020 by global alternative asset management TPG, focuses on developing, constructing, and being long-term owners of renewable energy assets.

This collaboration follows the recent announcement of H&M’s sustainable fashion collection with actor John Boyega, as well as the launch of delivery packaging made from recycled or sustainably sourced materials.