Mars partners to accelerate renewable energy efforts with GoldenPeaks Capital

Mars has signed its first renewable energy acceleration contract in Europe in partnership with GoldenPeaks Capital, as it looks to reinforce its commitment to renewable electricity.

According to the multinational confectionary company, it has partnered with the European renewable energy developer to launch more than 100 new solar projects in Poland.

The new project is set to come online in 2027 and will provide more than 129 megawatts of clean energy to Mars and produce approximately 222 gigawatt hours annually, which Mars claims is enough to power approximately 100,000 households each year.

The collaboration builds on the existing renewable energy commitments from the two food firms.

In Mars’ latest 2024 sustainability report, the company saw a 16.4% reduction in its greenhouse gases output compared to 2015. It also posted that 58% of the electricity it sourced is renewable.

The confectionary company aims to reduce the total greenhouse gas emissions by 50% by 2030 and achieve net-zero by 2050.

The energy acceleration project is now set to be the largest multi-buyer renewable energy agreement in Central and Eastern Europe, according to Mars.

In addition to the new deal, Mars has partnered with Cargill, which already signed its own deal with GoldenPeaks Capital, which will help to scale the new solar farms.

Mars also recently partnered with energy partner Enel, in an initiative designed to speed up the shift from fossil fuels to clean energy.

Kevin Rabinovitch, Mars’ global vice president of sustainability said: “Building on our recent work with Enel in North America, this new milestone in Europe clearly demonstrates our vision to make renewable energy the norm everywhere Mars does business.

“It’s unique and meaningful 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.”

He added: “Climate action needs to be global to be truly effective, and these partnerships show that action at scale is possible when we all work together,”

Adriano Agosti, founder and chairman of GoldenPeaks Capital said: “As a global company with the footprint of a small country, Mars has turned its global responsibility into an opportunity by leading the decarbonization process across its entire value chain.”

“GoldenPeaks Capital is proud to be a partner and play a role in achieving this global goal.”

It comes as Mars revealed that it is spending €1bn ($1.18bn) on production and R&D across 2025 and 2026, including on projects in France, Poland and Spain.