Hormel Foods Signs Virtual Power Purchase Agreement For Wind Power - Quick Facts

(RTTNews) - Hormel Foods Corp. (HRL) announced a virtual power purchase agreement for wind energy. The new wind farm will be located near Milligan, Nebraska. Construction is expected to be completed in 2020. The farm will be capable of 74 MW of power and an estimated 349,000 MWh of electricity each year. Hormel Foods partnered with Kinect Energy Group to assess the project and negotiate the agreement. Kinect Energy is a subsidiary of World Fuel Services, based in Miami, Florida.

Hormel Foods said, through this and other initiatives, the company will be supplied by almost 50 percent renewable wind power. In addition, the project will result in a reduction of approximately 197,000 metric tons of greenhouse gas emissions.