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3M to buy wind and solar power from Xcel, aims at 100% renewables

Wind turbines in Texas. Photo by: Xcel Energy (www.xcelenergy.com).

February 28 (Renewables Now) - US-based diverse manufacturing and technology company 3M Co (NYSE:MMM) has committed to cover 100% of its power needs globally with renewable sources and has set an interim target of at least 50% renewables by 2025.

The company will start immediately with its own global headquarters in Saint Paul, Minnesota. Most of the power for this 409-acre (165.5 ha) campus will come from wind farms near Pipestone that are owned by utility Xcel Energy Inc (NASDAQ:XEL). Additional electricity will come through plants that are part of Xcel’s Windsource programme, as well as solar parks.

3M said in a statement that the transition to 100% renewable power at its base will increase the company’s total global renewable electricity sourcing by over 5% to some 30%. Setting the global target also sees 3M join the RE100 initiative led by The Climate Group in partnership with Carbon Disclosure Project (CDP).

“Big brands like this can influence positive action from other companies and customers and accelerate the clean energy transition around the world,” commented Helen Clarkson, CEO of The Climate Group.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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