Inside the World of Corporate Clean Energy Procurement

My Climate Journey

Christina Yagjian leads global renewable energy strategy and origination at Cargill. According to Forbes, Cargill is the largest private company in the USA by revenue with $177 billion in the fiscal year ending in May, 2023. Before Cargill, Christina managed the renewable energy footprint at Meta, the parent company to Facebook and Instagram and one of the world's largest corporate clean power purchasers.

Our topic today is all about clean power purchasing, why large companies have started buying power directly, how they prioritize their needs across factors like cost and emissions, and how they structure their agreements. This is one of the more complex topics in the climate space, combining carbon accounting with power grid economics and a whole lot of wonk. Cody and Christina keep the conversation accessible to folks who are just trying to understand the role of power consumption, emissions and large companies in the first place. Special thanks to Christina for balancing the need to help explain the overall landscape along with articulating some of Cargill's specific initiatives and focus areas.

In this episode, we cover:

• [2:41] Christina's background and journey in renewables
• [9:53] Reasons behind corporate power purchases
• [11:19] The difference between renewable energy certificates (RECs) and power purchase agreements
• [16:08] The role of additionality in power purchase agreements
• [22:32] Balancing emissions footprints with the cost of power
• [26:07] Role of storage in balancing intermittent renewable resources
• [30:12] Challenges and barriers to clean power procurement, such as cost, timing, and market uncertainties
• [33:24] Considerations in choosing power generators and negotiating PPAs
• [36:51] An overview of virtual power purchase agreements
• [43:29] Managing clean power procurement and the need for robust data systems
• [45:52] Definition of success in clean power procurement for Cargill

Recorded May 15, 2024 (Published June 3, 2024)

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