The Dow Chemical Co. is the latest large US company to buy renewable energy, after agreeing a deal to buy 200 megawatts of wind power from a project in Texas developed by Bordas Wind Energy.
The wind farm, to be complete in first quarter 2016, will span nearly 35,000 acres, and will supply Dow’s Freeport Texas Manufacturing facility with 200MW of wind power annually, equivalent to the amount of electricity needed to power more than 55,000 homes. Dow will join US multinational companies like Google, Apple and Microsoft to buy renewable energy.
Bordas Wind Energy is a joint venture between MAP and Enerverse. “Dow is always looking for win-win solutions – good for the environment and good for business,” said Jim Fitterling, vice chairman of business operations at Dow. “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.”
“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,” said Seth Roberts, global business director of the Energy and Climate Change portfolio at Dow. “This decision also serves as a systemic hedge against both energy and power price volatility, while improving our overall carbon footprint.”