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Royal Caribbean partnership aims to reduce emissions starting in 2020

Tonya Garcia

Royal Caribbean Cruises Ltd. said Thursday that it has entered into a 12-year contract with Southern Power, a wholesale energy provider, for its 200-megawatt Reading Wind Facility, which will offset up to 12% of Royal Caribbean's emissions beginning 2020. The Reading Wind Facility will have 62 wind turbines and will break ground in the second quarter of 2019. Royal Caribbean shares are down 5.2% for the past year while the S&P 500 index is up 9.1% for the period.