Bayer and Cat Creek Energy (CCE) today announced a structured, long-term Renewable Energy Credit (REC) purchase agreement that will meet Bayer’s renewable electricity needs and lead to the construction of several variable renewable energy sources with energy storage facilities in Idaho, USA. Renewable energy projects will generate 1.4 terawatt hours of clean electricity each year.
Bayer wants to become carbon neutral by 2030
This initiative will enable Bayer to reduce its annual emissions by 370,000 metric tons of CO2, equivalent to the emissions of 270,000 mid-sized cars. It is consistent with the United Nations Sustainable Development Goals and the Paris Agreement to limit global warming to 1.5 degrees Celsius by 2050.
Bayer is committed to continuously reducing greenhouse gas (GHG) emissions within the company and along its value chain. The company aims to become carbon neutral in its own operations by 2030, purchasing 100% sustainable renewable electricity by the same year. These targets were endorsed by Science Based Targets, an initiative that encourages ambitious climate action in the private sector by allowing organizations to set science-based emissions reduction targets.
In addition, Bayer is committed to the highest standards for sustainable renewable electricity in accordance with the guidelines of the World Wildlife Fund (WWF), including the proximity of renewable energy facilities to Bayer sites.
Project will benefit the state of Idaho
The project will also help convert Idaho to clean, reliable energy by 2045. Rural communities will benefit from more than $1.5 billion in new electrical infrastructure, the creation of hundreds of jobs, and the contribution of millions of dollars in annual tax revenue to the counties and schools where the projects are built. Construction will begin in the third quarter of this year.
Stored energy is a vital technology component in the successful transition to clean energy. As CCE continues its development of large-scale, long-term storage through its pumped hydro storage project, the facilities under the agreement provide 160 MW of rated battery storage to support and enhance the integrity and reliability of the regional transmission grid.
