Dow Chemical has signed a 15-year power purchase agreement (PPA) for 200MW of wind power for its Freeport Texas manufacturing facility in the US.
The wind project is presently under stages of development in the southern parts of the state.
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Bordas Wind Energy, a joint venture between MAP and Enerverse, is the developer for the project which will meet up to 10% to 15% of the overall power consumption at the Dow’s Freeport facility.
While MAP is a clean energy fund manager based in California, Enerverse is a renewable power developer with headquarters in Houston, US.
Dow Energy and Climate Change global business director Seth Roberts said: "Adding large scale renewable energy to Dow’s manufacturing process is just one smart move that we can make to secure a future of sustainability, growth, and long-term competitive advantage."
"This decision also serves as a systemic hedge against both energy and power price volatility, while improving our overall carbon footprint."
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By GlobalDataThe long-term PPA is in line with Dow’s 2025 renewable energy target for 400MW, which is a part of its Sustainability Goal commitments.
Dow business operations vice chairman Jim Fitterling said: "By entering into this agreement, Dow is taking a serious approach to our future energy needs in Texas and cost-competitive wind energy is a great opportunity."
