Ørsted Signs Long-Term Power Purchase Agreements with Target and Hormel Foods Corporation

In addition to PepsiCo, announced earlier this year, Target, a general merchandise retailer and Hormel Foods, a global branded food company, have signed long-term agreements with Ørsted to purchase energy from the 298 MW Haystack wind project in Nebraska.

“It is great to partner with Hormel Foods, PepsiCo and Target as they work towards their renewable energy goals,” said Vishal Kapadia, Senior Vice President and Onshore Chief Commercial Officer at Ørsted. "Through projects like Haystack Wind, we are able to provide clean energy to the grid while contributing to the project’s local community through job creation, landowner benefits and local tax reduction."

On average, the project will contribute $4 million per year in local taxes and landowner payments to the community and will employ 300 construction workers at its peak.

“As one of the leading global branded food companies, Hormel Foods has committed to match 100 percent of its domestic energy use with renewable sourcing by 2030,” said Tom Raymond, director of environmental sustainability for Hormel Foods. “This project is another step we are taking to achieve this important goal and is an overall win for our environmental and energy programs.”