Dow Chemical Agrees to Buy 200 Megawatts From Wind Farm in Texas

Source: By Justin Doom, Bloomberg • Posted: Friday, March 20, 2015

(Bloomberg) — Dow Chemical Co., the largest U.S. chemical maker by sales, has agreed to buy 200 megawatts of capacity from a wind farm under development in Texas.

A subsidiary of Bordas Wind Energy LLC is building the wind farm, which is expected to be completed in the first quarter of next year, Midland, Michigan-based Dow said Friday in a statement. The project, which will span almost 35,000 acres, will supply Dow’s Freeport, Texas, manufacturing facility. Terms weren’t disclosed.

“By entering into this agreement, Dow is taking a serious approach to our future energy needs in Texas and cost-competitive wind energy is a great opportunity,” Jim Fitterling, vice chairman of business operations at Dow, said in the statement.

 Dow is seeking to increase its use of renewable power to 400 megawatts by 2025. About 900 megawatts of wind capacity will be built this year in the U.S. as almost 60 gigawatts of onshore wind power is installed globally, according to data compiled by Bloomberg New Energy Finance.