Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
Fonterra says the move will reduce the site’s carbon dioxide emissions by 25%.
With funding support from the Energy Efficiency and Conservation Authority (EECA), conversion is about to get underway on Brightwater’s existing coal boiler, adding capacity to burn wood biomass to generate steam.
The move will cut emissions from the factory by around 2,400 tonnes a year – roughly the same as taking 530 cars off the road.
Fonterra chief operating officer global operations Robert Spurway says the move to a co-fired boiler decreases reliance on fossil fuels and is a significant step towards achieving Fonterra’s emission reduction targets.
“Last year we joined forces with the Ministry for the Environment to develop a roadmap to a low emissions future, which included a commitment to undertake a demonstration of co-firing wood biomass with coal at one of our sites.
“Now, with the support of EECA, we’re putting our co-firing strategy into action. Brightwater’s transition to a lower emission energy source is a tangible step toward achieving our target of reducing our Global Operations emissions by 30% by 2030, and our longer-term goal of net zero emissions by 2050.”
