Snacking, food, and pet care products provider Mars announced new agreements with renewable energy developer GoldenPeaks Capital to launch more than 100 new solar projects in Poland to supply renewable electricity to Mars and to agriculture company Cargill, one of Mars’ largest suppliers.
The new agreement forms Mars’ first European contract under its Renewable Acceleration program, aimed at accelerating the shift from fossil fuels to clean energy across the company’s operations and its global value chain. Mars announced the launch of the program last month, with Enel North America as its first energy partner.
Under the new agreement, believed to be the largest multi-buyer renewable energy deal in the Central and Eastern Europe region, GoldenPeaks Capital will develop over 100 solar projects in Poland, which are anticipated to come online in 2027. The contracts include five virtual power purchase agreements (PPAs), for the delivery of the projects’ 224 MW of capacity to Mars and Cargill.
Adriano Agosti, Founder and Chairman of GoldenPeaks Capital, said:
“The PPA agreements with Mars and Cargill highlight our partnership-driven approach, delivering complex, high-value energy solutions, further driving decarbonisation across the region.”
Mars’ new Renewable Acceleration program follows the launch by the company in 2023 of a series of climate-related goals, including a target to cut carbon emissions across its full value chain in half by 2030, and to invest over $1 billion over three years to drive climate action. Mars said that it expects the program to contribute toward a 10% reduction of its total carbon footprint by 2030, and added that additional global agreements are in the pipeline.
Kevin Rabinovitch, Global VP Sustainability at Mars, said:
“I’m delighted to see the momentum we are getting with our Renewable Acceleration program. Building on our recent work with Enel in North America, this next step in Europe clearly demonstrates our vision to make renewables the standard wherever Mars does business. It’s unique and significant that one of our largest suppliers, Cargill, is joining us to accelerate the shift to clean energy for our shared supply chains, benefiting the communities we serve.”
Christina Yagjian, Senior Director, Global Renewable Energy at Cargill, added:
“We’re proud to collaborate with Mars on this unique joint procurement. Beyond lowering procurement costs and reducing emissions, this work deepens our commercial relationship and shows how partnership across the value chain can drive meaningful climate action.”
