Wind park in Texas. Author: Lindsay Attaway. License: Creative Commons, Attribution-ShareAlike 2.0 Generic
Minnesota-based food major General Mills Inc (NYSE:GIS) has inked a virtual 15-year power purchase agreement (PPA) for 100 MW of the Cactus Flats wind farm in Texas.
UK-based Renewable Energy Systems Ltd (RES) is building the particular plant in Concho County. In November 2016, the company signed a PPA for 50 MW of the project with General Motors Co (NYSE:GM).
General Mills has now signed a deal for the rest that will provide it with the associated renewable energy credits (RECs) produced by the wind park. The consumer foods maker will use those in order to achieve its greenhouse gas emission reduction goals, it said in a statement.
The company added that its investment will help fund the construction of the wind park. The construction process is expected to create a total of 250 jobs.