Today, Nestlé was named as one of the Renewable Energy Buyers Alliance (REBA) Deal Tracker Top Ten large energy buyers, recognizing its backing of a .250 Gigawatt solar project that will add enough electricity to the U.S. grid to power 90,000 homes per year. This achievement demonstrates Nestlé’s continued progress against its goal to be using 100% renewable electricity at all sites by 2025, and its ambition to achieve zero net greenhouse gas emissions by 2050.
“Expanding the use of renewable energy is an important part of our journey to achieve zero net greenhouse gas emissions by 2050, so we are delighted to see Nestlé recognized as a top ten renewable energy buyer,” said Molly Fogarty, Senior Vice President of Corporate Affairs. “To have the greatest impact, this is a shift that needs to happen both within and outside our walls at Nestlé. With that in mind, we will also continue to drive collective action across the industry and use our voice to advocate for better climate policies that enable a competitive renewable energy market, and help work towards a more sustainable future.”
Nestlé is uniting with innovative partners in its climate policy advocacy. The company recently signed-on to a call for specific federal policies to accelerate the transition to a zero-carbon power sector and expand access to clean energy for all customers. As a founding member of the Sustainable Food Policy Alliance, Nestlé stands with its partners in support of the group’s Climate Policy Principles, which include a national carbon pricing system, modernizing infrastructure and enabling clean energy development.
“Progress toward a zero-carbon future is as much about corporate action as it is about raising consumer awareness, so Nestlé’s recognition through the Deal Tracker Top Ten showcases its leadership and helps to send the broader message about the importance of climate action,” said Miranda Ballentine, Renewable Energy Buyers Alliance CEO. “And beyond the implementation of renewable energy, Nestlé’s announcement of its value chain-based approach further emphasizes the power of large energy buyers to increase impact by engaging partners.”
Nestlé earned a place on the Top Ten list thanks to its announcement of Taygete I, a 2,000-acre solar project owned and developed by 7X Energy in Pecos County, Texas. With this investment, the solar project will add .250 Gigawatt-hours of solar electricity to the U.S. grid. In addition to its direct investment, Nestlé will purchase 100% of the renewable electricity attributes generated by the project’s energy production, estimated to be 750,000 megawatt hours per year for 15 years. This renewable energy will help the company reduce carbon emissions while making household favorites like DiGiorno® pizza, Sweet Earth® meals, Purina® Pro Plan® pet food and Tidy Cats® cat litter.
About the REBA Deal Tracker
The REBA Deal Tracker is a unique tracking mechanism that focuses on U.S.-based utility scale corporate procurement, which informs the annual REBA Deal Tracker Top Ten lists featuring the top corporates, or large energy buyers, leading the procurement of renewable energy. Importantly, to be included on the REBA Deal Tracker, all renewable energy deals must meet the following requirements:
- Based in the U.S.
- Off-taker must a corporate in the commercial and industrial sector
- Classified as off-site, utility scale procurement or on-site procurement of over 20 MW
- Publicly announced through a company press release, alternative announcement medium (blog, media coverage), or through a regulatory filing
- Meet one of the following procurement mechanisms: power purchase agreement (PPA), green tariff, direct project ownership, bilateral utility deal, energy buyer tax equity investment, green power purchase
You can download the REBA Deal Tracker here.