Here’s news we can all raise a glass to: Anheuser-Busch announced a big wind power deal today. The beer-brewing giant signed a power purchase agreement (PPA) with Enel Green Power for electricity that will be generated at Enel’s Thunder Ranch wind farm in Oklahoma.
Earlier this year Anheuser-Busch InBev pledged to transition to 100 percent renewable energy by 2025, and today’s deal marks a huge first step toward achieving that goal. Thunder Ranch’s output could supply up to 50 percent of Anheuser-Busch’s electricity needs, and the deal will supply the company with enough wind-generated electricity to make 20 billion 12 ounce bottles of beer annually.
“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,” said Anheuser-Busch CEO Joao Castro Neves.
Wind’s low cost and price stability make it an appealing option for companies looking to secure long-term power sources.
“Our approach takes different business, social and environmental benefits into account,” Anheuser-Busch InBev said when announcing its 100 percent renewable target. “We do not expect our cost base to increase. Renewable electricity is competitive with or cheaper than traditional forms of electricity in many markets.”
“Power purchase agreements are an attractive model that provide not only an avenue for growth, but also revenue certainty through stable pricing,” said Enel Green Power CEO Antonio Cammisecra.
The Oklahoma community hosting Thunder Ranch will see important benefits from today’s news too. The project is expected to create 400 jobs during peak construction and it will attract $435 million of overall investment.
So crack open a soon-to-be-wind-powered Bud to celebrate!