Bayer signed a 1.4TWh renewable energy power agreement!

On May 3, Bayer AG, a world-renowned chemical and pharmaceutical group, and Cat Creek Energy (CCE), a renewable energy power producer, announced the signing of a long-term renewable energy purchase agreement. According to the agreement, CCE plans to build a variety of renewable energy and energy storage facilities in Idaho, USA, which will generate 1.4TWh of clean electricity per year to meet Bayer’s renewable electricity needs.

Bayer CEO Werner Baumann said the agreement with CCE is one of the largest single renewable energy deals in the U.S. and will ensure that 40 percent of Bayers global and 60 percent of Bayers U.S. electricity needs come from renewable sources while meeting Bayer Renewable Powers Quality Standard.

The project will achieve 1.4TWh of renewable energy electricity, equivalent to the energy consumption of 150,000 households, and reduce carbon dioxide emissions by 370,000 tons per year, which is roughly equivalent to the emissions of 270,000 medium-sized cars, or 31.7 million The amount of carbon dioxide that a tree can absorb each year.

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Limit global warming to 1.5 degrees Celsius by 2050, in line with the United Nations Sustainable Development Goals and the Paris Agreement. Bayer’s goal is to continuously reduce greenhouse gas emissions within the company and throughout the industry chain, with the goal of achieving carbon neutrality in its own operations by 2030. A key strategy for achieving Bayer’s emissions reduction goals is to purchase 100% renewable electricity by 2030.

It is understood that Bayer’s Idaho plant is the plant with the highest electricity consumption of Bayer in the United States. According to this cooperation agreement, the two parties will cooperate to build a 1760MW energy platform using various energy technologies. In particular, Bayer proposed that energy storage is an important technical component for the successful transition to clean energy. CCE will use pumped storage to support the development of its large-capacity long-term energy storage technology. The agreement plans to install a 160MW scalar battery energy storage system to support and enhance the integrity and reliability of the regional transmission grid.

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Post time: Jun-30-2023