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March 27, 2019

The Wonderful Company aims for 100% renewable electricity in US by 2025

The Wonderful Company has made a commitment to use 100% renewable energy for all its operations in the US by 2025.

The Wonderful Company has made a commitment to use 100% renewable energy for all its operations in the US by 2025.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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As part of this effort, the company has expressed its intent to join the RE100 Initiative.

RE100 is a collaborative initiative led by the London-based non-profit organisation The Climate Group. The group unites over 160 influential businesses that are committed to 100% renewable electricity.

The Wonderful Company chairman Stewart Resnick said: “As a responsible steward of the environment, we’ve invested more than $300m in sustainability research and innovations, clean energy and prudent use of natural resources.

“This is the natural progression of our sustainability efforts and the right thing for us to do as leaders in the agriculture industry.”

“This is the natural progression of our sustainability efforts and the right thing for us to do as leaders in the agriculture industry.”

In January this year, the agricultural company signed a power purchase agreement (PPA) with NextEra Energy to build a 23MW solar project in California’s Central Valley.

The project is expected to generate enough clean energy annually to grow nearly half of the company’s pistachio, almond as well as pomegranate crops. It will also take the company’s global renewable electricity use to approximately 25%.

Going forward, the company plans to source the remaining 75% of renewable energy from projects located on company land in the Central Valley.

The Wonderful Company aims to reach 100% renewable electricity globally by 2040.

The Climate Group North America executive director Amy Davidsen said: “The agricultural sector is one of the global industries most immediately impacted by the effects of climate change.

“As the largest agriculture business to join RE100 to date, we’re delighted to see The Wonderful Company tackle greenhouse gas emissions from the sector by committing to 100% renewable electricity, and we encourage all of their peers to join them.”

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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