Dupont Signs VPPA With NexEra Energy for 135 MW of Wind Energy

DuPont (NYSE: DD) announced on September 23 that it has signed a virtual power purchase agreement (VPPA) with a subsidiary of NextEra Energy Resources, LLC with a generation capacity of the equivalent of 135 megawatts of new wind energy in Texas. The agreement, subject to customary performance conditions, supports DuPont’s Acting on Climate goal of reducing absolute greenhouse gas (GHG) emissions by 30 percent, including sourcing 60 percent of electricity from renewable energy, by 2030, and achieving carbon neutrality by 2050.

“Through this VPPA, together with our 2020 actions, we will soon be sourcing the equivalent of approximately 25 percent of our total electricity needs today from renewable sources,” said Miguel Gonzalez, Chief Procurement Officer at DuPont. “Renewable energy is one part of an integrated climate and energy approach that will help us deliver our purpose of empowering the world with the essential innovations to thrive and move towards a more sustainable operation. We’re committed to managing our business to preserve the earth’s natural resources.”

The VPPA will deliver the equivalent of 135 megawatts of new wind power capacity or approximately 528,000 megawatt hours (MWh) of renewable electricity annually.

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A subsidiary of NextEra Energy Resources is developing the project and will build, own, and operate it. The new wind project – Appaloosa Run Wind – will be built in Upton County, Texas and is expected to be operational by the end of 2022.

DuPont’s plan to procure more renewable energy is helping to accelerate the transition to renewable sources in the U.S., and aligns with the company’s Acting on Climate sustainability goals. The company is reducing energy use through enterprise-level deployment of energy efficiency projects; sourcing low-carbon power, heating, and cooling; creating low-carbon industrial processes; and embedding climate risk into strategic and financial decisions, while advocating for progressive climate policy.

DuPont has already made significant progress towards its goals, converting utility supply at its largest manufacturing site to a low carbon source in the fourth quarter of 2019.

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A VPPA is a long-term contract for power between a buyer and a power project developer. VPPAs have become a common, effective means for corporations to purchase wind and solar power at scale. It has become a much preferred tool for corporates to cut back on emissions by using renewable energy.