Cargill Seals Wind & Solar Renewable Energy Deals
Food and agriculture giant Cargill has taken its consumption of renewable energy to the next level, reporting an increase of 42% in contracted capacity.
The company has signed five new deals to bring online an additional 300 megawatts of wind and solar capacity, expanding its total off-site renewable energy portfolio to 716 megawatts.
The deals are part of Cargill's goal of cutting greenhouse gases emissions by 10% by 2025, set against a 2017 baseline.
Cargill is a huge global operation. The American multinational was established in 1865 and now operates across 70 countries, focusing on agricultural trading, processing, and distribution.
Key products include grains (corn, wheat, soybeans), meats, poultry, and animal feed.
It also produces food ingredients such as starches, sweeteners, and oils, and serves industries including food manufacturing and pharmaceuticals.
Additionally, it is involved in risk management services for farmers and food companies, offering financial and commodity trading solutions.
Cargill was recently at the forefront of a sustainability initiative to harness wind power in sea freight shipping.
Globally, Cargill’s renewable energy portfolio includes 15 projects online across 12 countries. This portfolio mostly comprises wind and solar Power Purchase Agreements and Virtual Power Purchase Agreements (VPPAs), or agreements to buy renewable electricity and associated renewable energy credits for a defined period.
In 2023 it was also involved in a wind energy pilot with BAR Technologies, Mitsubishi Corporation and Yara Marine Technologies. If successful, the technology involved could decarbonise cargo vessels by up to 30%
Mitsubishi Corporation’s vessel Pyxis Ocean was chartered by Cargill, and is the first vessel to be fitted with ‘WindWings’ – high-tech sails 37.5 metres high that can be fitted to the deck of cargo ships to harness the wind.
Christina Yagjian, Cargill’s Global Renewable Energy Leader, said: "Feeding a growing global population in a sustainable manner anchors Cargill's climate initiatives.
"Integrating renewable projects into our supply chain and operations is part of our sustainable practice weave.”
She added: "While the bulk of our emissions reduction opportunity lies within global supply chains, cutting back on operational emissions is crucial in our voyage to decarbonise the food and agriculture sector, aligning with our and our customers' climate aspirations."