Anheuser-Busch to purchase power from Enel Green Power Thunder Ranch Wind Project
Anheuser-Busch has signed an agrement to purchase power from Enel Green Power (EGP), a renewable division of Enel Group.
Anheuser-Busch will purchase 152.5MW power delivered to the grid and renewable electricity credits from a portion of EGP's 298MW Thunder Ranch wind project.
The Thunder Ranch wind farm is expected to become operational by the end of 2017.
Anheuser-Busch president and CEO João Castro Neves said: "As we strive to bring people together to build a better world, we at Anheuser-Busch are dedicated to reducing our carbon emissions.
"Helping to grow the renewable energy market is not only good for the environment, it is a strategic business move as we strive for long-term sustainability. Now more than ever, we are excited to lead our company's global effort toward a renewable future and, partnering with Enel, set an industry example of how major companies can help to make a difference in climate change."
Enel Green Power CEO Antonio Cammisecra said: "We are thrilled to partner with Anheuser-Busch, a company, which like the Enel Group, is taking great strides to help tackle some of the world's greatest challenges.
"Power Purchase Agreements are an attractive model that provide not only an avenue for growth, but also revenue certainty through stable pricing. This agreement is another important milestone for our company in the U.S. and globally, once again underscoring Enel Green Power's position as the partner of choice for corporate customers, as we help them achieve their sustainability targets by providing customized renewable energy solutions, leveraging our industry-leading cost model and technology expertise."
This deal is part of Anheuser-Busch's parent company AB InBev's goal to secure 100% of purchased electricity from renewable sources by 2025.
Anheuser-Busch in total will annually receive around 610 gigawatt-hours of renewable power.
The energy produced by the Thunder Ranch facility under the PPA is sufficient to power 50,000 US households and is expected to annually cut down CO2 emissions by more than 400,000 tonnes, which is equivalent to taking more than 85,000 vehicles off the US roads every year.