trending Market Intelligence /marketintelligence/en/news-insights/trending/cQZU_FlSkM3yv6KVjmpBTA2 content esgSubNav
In This List

RES to sell renewable credits from Texas wind project to General Mills

Blog

Insight Weekly: Banks' efficiency push; vacuuming carbon; Big Pharma diversity goals

Blog

Smart thermostats gain traction in US, point to modest electricity savings

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Insight Weekly: Banks pursue deals; offshore wind transmission; UK broadcasters vs. streamers


RES to sell renewable credits from Texas wind project to General Mills

Renewable Energy Systems Americas Inc. has agreed to sell renewable energy credits for two-thirds of the power generated by the planned 150-MW Cactus Flats wind farm to General Mills Inc. under a 15-year "virtual" power purchase agreement in Texas.

The renewable energy credits from the Concho County, Texas, facility will help General Mills reach its greenhouse gas emission reduction goal by 2050, according to a June 8 release.

"This investment is another step towards reducing our energy footprint and achieving sustainable emission levels — in line with scientific consensus — by 2050," General Mills Supply Chain Executive Vice President John Church said.

The remaining 50-MW output of Cactus Flats will be sold to General Motors Co., according to the terms of a power purchase contract signed in November 2016.

Renewable Energy Systems will develop, construct, own and operate the project, which is expected to come online in 2018.