Commercial, Solar - August 3, 2020
Cargill, Ardent Mills complete agreement with Texas solar farm
Cargill and Ardent Mills will soon be receiving power from the Misae Solar I project in Northern Texas through retail supply agreements that were finalized on July 30.
The two companies completed agreements with MP2 Energy stating that they will purchase both solar power and associated RECs from the solar project. The power will provide 760,000 MWh of energy to nine Cargill and Ardent Mills facilities in Texas and offset 56,000 metric tons of Scope 2 carbon emissions annually.
“We’re pleased to partner with MP2 and Misae Solar Park I on structuring a new physical renewable power purchase that further contributes to Cargill’s goal of reducing direct greenhouse gas emissions from our operations by 10 percent by 2025,” Eric Hoegger, Director of Global Renewable Energy at Cargill, said in a statement. “This new retail transaction structure allows both Cargill and Ardent Mills to add clean solar power to our plants within ERCOT starting in Q2-2021, avoiding additional energy market risk, while supporting the addition of new renewable power to the grid. The structure of this retail energy transaction is another tool available to corporate energy managers to simplify purchasing physical renewable energy.”
Cargill and Ardent Mills agreed to purchase renewable energy and RECs from the Misae project for 67 months beginning in May 2021. MP2 is targeting a goal of meeting 90% of their customers’ aggregate electric load across all Texas facilities with renewable energy from new generation sources.
The companies completed the agreement with MP2 while their parent company, SENA, negotiated the wholesale offtake.