USA – Cargill, a leading grain elevator and commodity trader, has announced a significant milestone in its sustainability journey by increasing its contracted renewable energy capacity by 42%.
The company’s latest move involves the signing of five new deals, adding 300 megawatts of wind and solar capacity to its existing portfolio, bringing the total offsite renewable energy capacity to 716 megawatts.
This expansion aligns closely with Cargill’s commitment to reducing absolute operational greenhouse gas emissions by 10% by 2025 against a 2017 baseline.
Already, the company has achieved an emissions reduction of 10.97% as of calendar year 2022, demonstrating significant progress towards its sustainability goals.
The renewable energy portfolio of Cargill spans 15 projects across 12 countries globally. Primarily composed of wind and solar Power Purchase Agreements (PPAs) and Virtual Power Purchase Agreements (VPPAs), these contracts enable Cargill to procure renewable electricity and associated renewable energy credits, contributing to its sustainability objectives.
Once the five additional contracts become fully operational in 2024, Cargill anticipates a reduction of nearly 820,000 metric tons of CO2 equivalent emissions annually.
This reduction is equivalent to removing nearly 200,000 gas-powered vehicles from the road for one year, underlining the significant environmental impact of Cargill’s renewable energy initiatives.
Christina Yagjian, Global Renewable Energy Leader at Cargill, emphasized the company’s holistic approach to climate action, integrating sustainable practices throughout its supply chains and operations.
Yagjian stated, “Renewable energy projects are just one of several ways we are weaving sustainable practices into our supply chains and global operations.”
Notable highlights
Noteworthy highlights of Cargill’s current renewable energy portfolio include a diverse array of partnerships and agreements across the globe.
In Germany, Cargill has teamed up with Mars to execute Virtual Power Purchase Agreements (VPPAs) with Ocean Breeze Energy, the owner of the Bard Offshore Wind Farm.
Further south, in Italy, Cargill has entered into a Power Purchase Agreement (PPA) with Galileo Green Energy to secure solar photovoltaic capacity.
In the Netherlands, Cargill has established a contract with Vattenfall to procure wind energy from the Windpark Hanze project.
Across the Atlantic, in the United States, Cargill has engaged in a Virtual Power Purchase Agreement (VPPA) with Blue Cloud Wind Energy to access wind energy in Texas.
In Brazil, Cargill has taken a proactive approach by securing a self-production contract with Serena Energia for wind energy in Bahia.
These initiatives underscore Cargill’s commitment to sustainability, driving tangible reductions in carbon emissions while advancing its green ambitions on a global scale.
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