Campbell Soup Inks Renewable Energy Agreement With Enel North America

  • Campbell Soup Company CPB has entered into a twelve-year virtual renewable power purchase agreement with Enel North America, part of the Enel ENLAY Group.
  • Under the agreement, Campbell will purchase the electricity and the associated renewable energy credits from a 115 megawatt share of Enel's Seven Cowboy wind project in Oklahoma. The contract is expected to commence in July 2023.
  • The Seven Cowboy wind project will have 107 turbines that are expected to generate over 1.3 terawatt hours of energy each year.
  • The renewable energy credits retained through the agreement will reduce Campbell's Scope 2 GHG emissions, aiding it to reduce its combined Scope 1 and 2 GHG emissions 42% by the fiscal year 2030. 
  • The renewable electricity procured is estimated to avoid approximately 191,000 metric tons of CO2 emissions every year.
  • "Improving the sustainability of the agriculture and food value chain is important to Campbell," said Stewart Lindsay, Campbell's VP, Corporate Responsibility and Sustainability.
  • Price Action: CPB shares are trading higher by 0.87% at $52.01 on the last check Monday.
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