Two leading global food companies, Mars and Cargill, announced they are spurring the development of more than 224MWac* of new renewable energy capacity through five virtual power purchase agreements (PPAs) in Poland. The PPAs were signed with GoldenPeaks Capital, one of Europe’s fastest-growing independent producers of renewable energy.
Two leading global food companies, Mars and Cargill, announced they are spurring the development of more than 224MWac of new renewable energy capacity through five virtual power purchase agreements (PPAs) in Poland.
This collaboration builds on Mars and Cargill’s existing work on renewable energy and reflects an innovative approach to supplier-customer engagement on climate action. The companies signed what is believed to be the largest multi-buyer renewable energy agreement in Poland and the Central and Eastern Europe (CEE) region, which is Europe’s most carbon-intensive grid.
“These solar PPA agreements will create new solar projects that enable Mars to reduce and eliminate its current scope 2 electricity emissions in Poland and also a portion of our scope 3 emissions as part of our Renewable Acceleration program where Mars is driving progress on renewable electricity in our value chain,” said Kevin Rabinovitch, Global VP of Sustainability at Mars. “Having a supplier like Cargill also working directly on its electricity use complements our approach. In Poland, by aggregating with our supplier, we gained scale and delivered a huge win for both of our organizations as we join forces to advance our individual companies’ climate goals.”
GoldenPeaks Capital will develop the new solar projects, which are expected to come online in 2027 and generate enough clean energy to power an estimated 200,000 households every year. 3Degrees, a leading global climate solutions provider, facilitated the agreements on behalf of Mars and Cargill.
“We’re proud to collaborate with Mars on this unique partnership,” said Christina Yagjian, Senior Director, Global Renewable Energy at Cargill. “Beyond lowering procurement costs and reducing emissions, this work deepens our commercial relationship and shows how partnership across the value chain can drive meaningful climate action.”
This effort demonstrates how supplier-customer partnerships can drive emissions reductions at scale and accelerate progress toward shared climate goals – offering a replicable model for the broader food and agriculture sector.
Adriano Agosti, Founder and Chairman of GoldenPeaks Capital, said: “The PPA agreements with Mars and Cargill highlight our partnership-driven approach, delivering complex, high-value energy solutions, further driving decarbonisation across the region.”
“We applaud Mars and Cargill’s leadership with the signing of these PPAs,” added Tyler Espinoza, Global Head of Power Markets at 3Degrees. “They are setting an excellent example of how companies and their suppliers can effectively collaborate to make forward progress in their collective decarbonisation goals. We need more organisations to follow in their footsteps and make similar moves to collaborate and accelerate meaningful climate action.”
*MWac (megawatts alternating current) measures the usable electricity delivered to the power grid.
