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Dominion, Smithfield Foods to invest USD 500m in RNG

Source: Pixabay

October 24 (Renewables Now) - US power and gas supplier Dominion Energy Inc (NYSE:D) and meat processor Smithfield Foods Inc said Wednesday they will double their joint investment in renewable natural gas (RNG) projects to USD 500 million (EUR 449.3m) through 2028.

The partners want their joint venture Align Renewable Natural Gas (Align RNG) to be able to pursue projects outside of North Carolina, Virginia and Utah, where its initial projects are located. Dominion and Smithfield mentioned new locations like Arizona and California in the press release.

The two companies founded Align RNG in November 2018 with plans to produce clean RNG from methane captured from Smithfield’s company-owned and contract hog farms. The initial USD-250-million investment was to cover ten years.

The first Align RNG facility is in Milford, Utah and will be operational this year.

The newly announced investment injection will support projects that could produce enough RNG to power more than 70,000 households and businesses by 2029. The expanded efforts also support Smithfield's goal to cut the greenhouse gas (GHG) emissions across its entire supply chain by 25% by 2025.

(USD 1.0 = EUR 0.90)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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