Finance, Industrial, Sourcing Renewables, Wind - June 8, 2017
General Mills signs VPPA for 100 MW of Texas wind
for 100 MW of capacity from a wind project under construction in Texas.
The consumer foods company said June 8 that its investment in the 150 MW Cactus Flats wind project marks another step toward meeting its greenhouse gas emissions reduction goals. General Mills is one of a growing number of Fortune 500 companies that have adopted science-based climate goals; the company is targeting a reduction in greenhouse gas emissions across its full value chain in a range of 41% to 72% by 2050, according to its most recent sustainability report.
The Renewable Energy Systems wind project in Concho County, Texas, will produce renewable energy credits for General Mills that can be applied toward the company's Scope 2 greenhouse gas emission reduction goals. In 2016, General Mills reduced the greenhouse gas emissions of its extended value chain by 2% versus 2015, according to its June 8 news release.
"As we help mitigate the impacts of climate change, investing in wind energy is the right thing to do," John Church, Executive Vice President of Supply Chain at General Mills said in a statement. "This investment is another step towards reducing our energy footprint and achieving sustainable emission levels — in line with scientific consensus — by 2050."
General Mills said it worked with Altenex, an Edison Energy company, to ensure the project met its sustainability, performance and economic objectives.
During the peak of construction, the project is expected to create about clean energy 250 jobs. Citing numbers from the American Wind Energy Association, General Mills said the industry is one of the fastest growing segments for job creation, adding jobs nine times faster than the overall U.S. economy.
Smart Energy Voices Podcast
Episode 4: The Purpose Driven Organization
with Jeff Fromm and David Smart
- No Capital Needed: Your Guide to No-Cost Energy Projects
- Retail Suppliers are Changing the Game for Renewable Energy Buyers
- Being an Energy Superhero in Challenging Times: Maximizing Value through Active Retail Portfolio Management
- A Microgrid For Your Business is More Important Now Than Ever. Find out why.
- Is the Virtual Power Purchase Agreement the best path to achieving your sustainability goals?