Dow, one of the world's largest chemical industries, has signed a contract for the acquisition of renewable energy with Casa dos Ventos, a pioneer in wind projects in Brazil. The agreement has a duration of 15 years and guarantees a volume of 60 MWm continuous for Dow's unit, enabling more sustainable production. In addition to purchasing energy, Dow may invest in wind farms, enabling self-generation of energy in the future.
The signing makes Dow one of Casa dos Ventos' partners to enable the largest wind complex in the country and possibly in the world, the Rio do Vento Wind Complex, which will have 1038 MW of capacity after the completion of its second phase.
We have managed to inject over 1 GW of wind power generation capacity into the country with private partners; at the same time, companies are aligning their businesses with the pillars of sustainability, and the renewable energy matrix is gaining an important addition
comments Lucas Araripe, director of New Business at the company.
The long term established for the contract, in addition to contributing to the viability of the park, evidences Dow's commitment to decarbonizing its production processes. "This partnership with Casa dos Ventos reinforces Dow's commitment to achieving carbon neutrality by 2050. We have invested in diversifying our energy matrices and currently have 850 MW of renewable energy capacity contracted, exceeding our 2025 sustainability target", highlights Claudia Schaeffer, Dow's Energy Director for Latin America.
The chosen solution, a long-term contract with the option of investing in a specific purpose entity (SPE), enables the construction of a new wind project and contributes to the company's alignment with ESG principles, an English acronym for Environmental, Social, and Corporate Governance. Additionally, it provides stability in supply, increased competitiveness for the company, and the forecast of generating 1,100 direct and 2,200 indirect jobs at the peak of the construction works of the Rio do Vento 2 wind park, and an average of 1,500 direct and indirect jobs during the implementation phase. In the operating phase, the generation of approximately 200 direct and indirect jobs is expected on a permanent basis, i.e., throughout the life of the project. "In a period of constant increases in energy prices, this modality brings greater security, places the consumer as an active agent in generating the energy they use, less exposed to unfavorable scenarios and independent of the regulated market", points out Araripe.
Dow (NYSE: DOW) combines global reach, scale, and asset integration, focused innovation, and business leadership to achieve profitable growth. Its ambition is to become the world's most innovative, customer-centric, inclusive, and sustainable materials science company to enable a more sustainable future for the planet through its expertise in materials science and collaboration with its partners. Dow's differentiated portfolio of plastics, industrial intermediates, coatings, and silicones offers a wide range of scientifically-based products and solutions to customers in high-growth market segments, such as packaging, infrastructure, mobility, and consumer care. Dow operates 106 manufacturing sites in 31 countries and employs approximately 35,700 people. In 2020, it generated approximately $39 billion in sales. References to Dow or the Company mean Dow Inc. and its subsidiaries.
