Actionable news
0
All posts from Actionable news
Actionable news in DOW: DOW CHEMICAL COMPANY,

Dow Increases Clean Energy Targets Aligned to 2025 Sustainability Goals

MIDLAND, Mich., May 17, 2016 (BUSINESS WIRE) -- Today, The Dow Chemical Company DOW, -0.17% advances its vision to accelerate the development of cost-effective clean energy alternatives and reduce carbon emissions by increasing its clean energy target from 400 MW to 750 MW by 2025. This increase aligns with Dow’s 2025 Sustainability Goals and was achieved within the first year of the launch of the goals.

To accelerate this plan, Dow has partnered with NRG Energy, Inc. NRG, +0.19% and NRG Yield, Inc. NYLD, +0.33% NYLD.A, -0.14% on a large scale collaboration for renewable energy. The partnership will provide sustainable, clean energy through a ten-year wind power purchase agreement from the 150 MW Goat Mountain I and II wind farms, which will power Dow’s Freeport, Texas facilities. The collaboration with NRG Energy and the additional 150 MW of renewable energy contributed to a total of approximately 500 MW in renewable energy for Dow, resulting in the increased clean energy target.

Launched in 2015, the original 2025 Sustainability Goals include a key performance indicator to use 400 MW of clean power. Meeting this target in just one year, Dow is resetting its goal to 750 MW, further illustrating the company’s continued forward-thinking, leadership position in clean energy.

“Dow’s 2025 Sustainability Goals define the path forward for our Company, and today we are pleased to increase our renewable energy targets from 400 MW up to 750 MW by 2025,” said Dr. Neil Hawkins, Dow’s corporate vice president and chief sustainability officer.“Dow is proud to be the first company in the United States to power manufacturing sites with renewable energy at this kind of scale and that we’ve become one of the largest corporate purchasers of wind energy in America. We appreciate this new collaboration with NRG at our Freeport site.”

Historically, Dow has utilized grid power, fossil fuels, natural gas, coal and oil to power its plants. However, with the change in market prices and policies, the Company...


More