DuPont Announces Virtual Power Purchase Agreement for Renewable Energy
DuPont has signed a virtual power purchase agreement (VPPA) with a NextEra Energy Resources subsidiary, committing to 135 megawatts of new wind energy in Texas, equating to 528,000 megawatt hours of renewable electricity annually. This move supports DuPont's sustainability goals, including a 30% reduction in greenhouse gas emissions by 2030 and carbon neutrality by 2050. The wind project is expected to be operational by the end of 2022 and is projected to avoid emissions equivalent to over 81,000 cars annually.
- Committing to a VPPA for 135 megawatts of wind energy supports sustainability goals.
- Expected to reduce GHG emissions by 30% by 2030.
- Projected annual renewable electricity equivalent to avoiding emissions from over 81,000 passenger cars.
- None.
WILMINGTON, Del., Sept. 23, 2021 /PRNewswire/ -- DuPont (NYSE: DD) today announced that it has signed a virtual power purchase agreement (VPPA) with a subsidiary of NextEra Energy Resources, LLC with a generation capacity of the equivalent of 135 megawatts of new wind energy in Texas. The agreement, subject to customary performance conditions, supports DuPont's Acting on Climate goal of reducing absolute greenhouse gas (GHG) emissions by 30 percent, including sourcing 60 percent of electricity from renewable energy, by 2030, and achieving carbon neutrality by 2050.
"Through this VPPA, together with our 2020 actions, we will soon be sourcing the equivalent of approximately 25 percent of our total electricity needs today from renewable sources," said Miguel Gonzalez, Chief Procurement Officer at DuPont. "Renewable energy is one part of an integrated climate and energy approach that will help us deliver our purpose of empowering the world with the essential innovations to thrive and move towards a more sustainable operation. We're committed to managing our business to preserve the earth's natural resources."
The VPPA will deliver the equivalent of 135 megawatts of new wind power capacity or approximately 528,000 megawatt hours (MWh) of renewable electricity annually. This amount of clean energy is equivalent to avoiding the carbon emissions from more than 81,000 passenger cars driven each year, or the annual electricity consumption of nearly 70,000 homes.
A subsidiary of NextEra Energy Resources is developing the project and will build, own, and operate it. The new wind project – Appaloosa Run Wind – will be built in Upton County, Texas and is expected to be operational by the end of 2022. Schneider Electric, the leading advisor on corporate renewable energy procurement globally, supported DuPont in the selection of and negotiations for the project.
DuPont's plan to procure more renewable energy is helping to accelerate the transition to renewable sources in the U.S., and aligns with the company's Acting on Climate sustainability goals. The company is reducing energy use through enterprise-level deployment of energy efficiency projects; sourcing low-carbon power, heating, and cooling; creating low-carbon industrial processes; and embedding climate risk into strategic and financial decisions, while advocating for progressive climate policy.
DuPont has already made significant progress towards its goals, converting utility supply at its largest manufacturing site to a low carbon source in the fourth quarter of 2019. The company completed nearly 100 energy savings projects in 2020 and reduced its location-based 2020 Scope 2 emissions – indirect GHG emissions associated with the purchase of electricity, steam, heat, or cooling – by 11 percent compared to 2019. Additional projects include the phased launch of reduced global warming potential (GWP) Styrofoam insulation options, which will deliver significant avoidance of GHG emissions via a lower embodied carbon product offering.
"DuPont has long been recognized as a leader in sustainability, and it is a tremendous honor for Schneider Electric to advise them on their bold climate action goals," said Steve Wilhite, Senior Vice President of Schneider Electric. "The need to proactively manage a company's energy portfolio has never been more critical. I applaud DuPont's ambitions and we look forward to supporting the company's long-term renewable energy procurement and decarbonization strategy."
A VPPA is a long-term contract for power between a buyer and a power project developer. VPPAs have become a common, effective means for corporations to purchase wind and solar power at scale. To learn more about VPPAs, read this short e-book from Schneider Electric.
To learn more about DuPont's 2030 Sustainability Goals, please click here.
About DuPont
DuPont (NYSE: DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.
DuPont™, the DuPont Oval Logo, and all trademarks and service marks denoted with ™, SM or ® are owned by affiliates of DuPont de Nemours, Inc. unless otherwise noted.
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