Key Takeaways:
- Source Agriculture Corp and RWE Clean Energy Development LLC have signed an agreement to install wind turbines on Source Agriculture’s 158-acre farm in Illinois.
- The agreement is part of Source Agriculture’s strategy to enhance sustainability and generate additional revenue through clean energy.
- RWE Clean Energy, a subsidiary of RWE AG, will install the wind turbines and related infrastructure.
- This partnership aims to blend traditional farming with renewable energy solutions, contributing to Source Agriculture’s long-term sustainability goals.
Source Agriculture Corp has announced the signing of a strategic agreement with RWE Clean Energy Development LLC to install wind turbines on its 158-acre farm in Illinois. The agreement is part of Source Agriculture’s efforts to incorporate renewable energy into its agricultural operations, aiming to improve sustainability and generate additional revenue.
What The Agreement Includes
Under the terms of the agreement, RWE Clean Energy, a subsidiary of RWE AG, will be responsible for installing wind turbines and related infrastructure. This move aligns with Source AG’s strategy of increasing the return on investment (ROI) of its agricultural holdings by adopting clean energy technologies.
“This agreement with RWE Clean Energy is a testament to Source Agriculture’s commitment to executing on our promised vision of integrating clean energy solutions into our operations,” said Vare Grewal, President and CEO of Source Agriculture Corp. “We are excited to partner with such a reputable and experienced company to advance our sustainability goals and enhance the value of our farm investments.”
RWE Clean Energy’s Role
RWE Clean Energy Development LLC brings expertise in the U.S. renewable energy sector, with a focus on the development, construction, and operation of renewable energy facilities. The company, a subsidiary of RWE AG, is a prominent player in the renewable energy industry, with operations across several regions including North America, Europe, and Asia-Pacific.
RWE AG, headquartered in Essen, Germany, has been in operation since 1898 and is involved in electricity generation and renewable energy solutions worldwide.
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Acquires Prime Farmland in Illinois, Eyes Expansion and Sustainability (2024/04/04)
Source Agriculture has acquired a 158-acre farm in Macon County, Illinois, for $2,732,000 USD. The farm, with a high productivity index, is part of the company’s strategy to enhance operational efficiency and sustainability. The acquisition is part of the company’s broader strategy to adopt sustainable farming practices, such as carbon sequestration and renewable energy projects. The company has entered into an operating agreement with a local operator for corn and soybean farming. The acquisition also underscores the importance of shareholder support in achieving operational goals and aims to become the largest farmland company in the United States.
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