Genneia to supply wind, solar power to Bunge in Argentina

US grain trader Bunge (NYSE:BG) has secured renewable power to cover about 40% of the electricity needs of its operations in Argentina under a 10-year power offtake agreement signed with local energy firm Genneia.

The contracted power will be sourced from a portfolio of wind and solar farms, the companies announced on Thursday.

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The power purchase agreement (PPA) will come into force as of March. It secures clean energy for Bunge’s facilities located in Campana, Ramallo, San Jeronimo Sud and its Terminal de Fertilizantes Argentinos SA (TFA) unit in Puerto General San Martin.

The deal will cover 58% of the total annual electricity needs of the abovementioned plants and around 40% of Bunge’s overall energy consumption in Argentina.

The PPA with Genneia helps Bunge meet its science-based targets which call for a reduction in greenhouse gas emissions by 2030 through increased use of wind, solar and other renewable electricity sources, the US firm noted.