Dow Chemical Co. (NYSE:DOW) said March 13 that it has taken another step towards reducing its carbon “footprint” by signing a long-term agreement with a new wind farm, currently under development in South Texas by a subsidiary of Bordas Wind Energy LLC, a joint venture between MAP and Enerverse LLC.
The wind farm, to be complete in first quarter 2016, will span nearly 35,000 acres, and will supply Dow’s Freeport Texas Manufacturing facility with 200 MW of wind power annually. As a direct result, Dow is the first company in the U.S. to power a manufacturing site with renewable energy at this scale, and will become the third largest corporate purchaser of wind energy in the United States.
“Dow is always looking for win-win solutions – good for the environment and good for business,” said Jim Fitterling, vice chairman of business operations at Dow. “By entering into this agreement, Dow is taking a serious approach to our future energy needs in Texas and cost-competitive wind energy is a great opportunity.”
“Adding large scale renewable energy to Dow’s manufacturing process is just one smart move that we can make to secure a future of sustainability, growth, and long-term competitive advantage,” said Seth Roberts, global business director of the Energy and Climate Change portfolio at Dow. “This decision also serves as a systemic hedge against both energy and power price volatility, while improving our overall carbon footprint.”
Dow said it is driving innovations that extract value from the intersection of chemical, physical and biological sciences to help address many of the world’s most challenging problems such as the need for clean water, clean energy generation and conservation, and increasing agricultural productivity. Dow’s integrated, market-driven, industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 180 countries and in high-growth sectors such as packaging, electronics, water, coatings and agriculture. The company’s more than 6,000 products are manufactured at 201 sites in 35 countries across the globe.