Beer giant Anheuser-Busch has announced it has signed a power purchase agreement (PPA) with Enel Green Power. The agreement relates to energy produced by a portion of the Thunder Ranch wind farm in Oklahoma, which is expected to commence operations by the end of this year.
In a statement on Wednesday, Anheuser-Busch said that the renewable energy produced under the PPA would be equivalent to powering up to half of its total purchased electricity in one year, helping to "significantly" reduce overall emissions from operations.
"Helping to grow the renewable energy market is not only good for the environment, it is a strategic business move as we strive for long-term sustainability," Anheuser-Busch's president and CEO, João Castro Neves, said.
"Now more than ever, we are excited to lead our company's global effort toward a renewable future and, partnering with Enel, set an industry example of how major companies can help to make a difference in climate change," he added.
Enel Green Power's CEO, Antonio Cammisecra, said that power purchase agreements were an attractive model which provided both an avenue for growth and revenue certainty via stable pricing. "This agreement is another important milestone for our company in the U.S. and globally," he added.
Looking at the bigger picture, Anheuser-Busch's parent company, AB InBev, has made a commitment to securing 100 percent of its purchased electricity from renewable sources by the year 2025.
According to the Department of Energy, the U.S. is "home to one of the largest and fastest-growing wind markets in the world."