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's great to partner with Hormel Foods, PepsiCo, and Target as they work towards their renewable energy goals," said Vishal Kapadia, Senior Vice President and Chief Commercial Officer, at Ørsted Onshore.

"Through projects like Haystack Wind, we're 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 USD 4 million per year in local taxes and landowner payments to the community, and it will employ 300 construction workers at its peak.

"As one of the leading global branded food companies, Hormel Foods has committed to match 100 % 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're taking to achieve this important goal and is an overall win for our environmental and energy programmes."

About Ørsted

Ørsted's vision is to create a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products to its customers. Ørsted ranks #1 in Corporate Knights' 2020 index of the Global 100 most sustainable energy companies in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs 6,179 people. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2020, the company generated revenue of DKK 52.6 billion (EUR 8.1 billion). For more information on Ørsted, visit orsted.com or follow us on Facebook, LinkedIn, Instagram, and Twitter.