WAYZATA, Minnesota
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March 28, 2024
(press release)
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Cargill reports increasing its contracted renewable energy capacity by 42% after signing five new deals to bring online an additional 300 megawatts of wind and solar capacity, expanding its total offsite renewable energy portfolio to 716 megawatts. These contracts play a meaningful role in helping Cargill achieve its goal to reduce absolute operational greenhouse gas emissions by 10% by 2025 against a 2017 baseline, with the company already achieving an emissions reduction of 10.97% as of calendar year 2022. Globally, Cargill’s renewable energy portfolio includes 15 projects online across 12 countries. This portfolio is primarily composed of wind and solar Power Purchase Agreements (PPAs) and Virtual Power Purchase Agreements (VPPAs), or agreements to buy renewable electricity and associated renewable energy credits for a defined period. Once five additional contracts are fully operational in 2024, Cargill’s renewable electricity mix is anticipated to reduce its CO2e emissions by nearly 820,000 metric tons per year – the equivalent of removing nearly 200,000 gas-powered vehicles from the road for one year. “Cargill’s commitment to climate action spans our entire business and focuses on feeding a growing global population more sustainably,” said Christina Yagjian, Global Renewable Energy Leader. “Renewable energy projects are just one of several ways we are weaving sustainable practices into our supply chains and global operations. While Cargill’s greatest opportunity for emissions reductions lies within its global supply chains, reducing emissions from the company’s operations is a critical step in our efforts to decarbonize the food and agriculture industry and supports not only our climate goals, but also those of our customers.” Highlights of Cargill’s current renewable energy portfolio include: Media Contact: media@cargill.com Cargill is committed to providing food, ingredients, agricultural solutions, and industrial products to nourish the world in a safe, responsible, and sustainable way. Sitting at the heart of the supply chain, we partner with farmers and customers to source, make and deliver products that are vital for living. Our 160,000 team members innovate with purpose, providing customers with life’s essentials so businesses can grow, communities prosper, and consumers live well. With 159 years of experience as a family company, we look ahead while remaining true to our values. We put people first. We reach higher. We do the right thing—today and for generations to come. For more information, visit Cargill.com and our News Center. Notes to editors: Energy and sustainability advisory company, Trio, formerly Altenex Energy, an Edison Energy company, worked with Cargill and Mars on the Bard Offshore Wind Farm and Italian solar agreements, facilitating the VPPA process and providing support across PPA strategy, sourcing, contract analysis and negotiation.
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