Packaging giant Coveris has taken a significant step towards its sustainability goals by signing a new physical power purchase agreement (PPA) for renewable energy in the UK.
The deal, brokered by AlphaReal, will see Coveris source a substantial portion of its electricity from a 13.5MW onshore wind farm located in East Kilbride, Scotland.
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By GlobalData
This latest agreement marks a continuation of Coveris’ commitment to transitioning its operations to renewable energy.
The company has already made significant strides in this area, including a ten-year PPA with Neoen to supply electricity to its European plants.
The new UK PPA will provide Coveris with a reliable supply of green energy, contributing to its efforts to reduce its carbon footprint and achieve net-zero emissions.
The company will also benefit from Renewable Energy Guarantee of Origin (REGO) certificates, ensuring that the electricity it receives is genuinely renewable.
“At Coveris, reducing our carbon footprint and switching to renewable energy are integral components of our ‘No Waste’ sustainability strategy. These agreements represent an incredible milestone for Coveris as we are likely to be one of the first packaging companies to complete a physical PPA, which is more complex and less common than a virtual PPA,” said Christian Kolarik, CEO of Coveris.
“By securing these agreements, we are ensuring that a significant portion of our energy consumption is derived from renewable sources.”
The wind farm project, developed in collaboration with EDF Business Solutions, will provide Coveris with a stable and reliable source of renewable energy.
The PPA will help to support the growth of the UK’s renewable energy sector and contribute to the country’s decarbonisation goals.
As the packaging industry faces increasing pressure to adopt more sustainable practices, Coveris’ commitment to renewable energy is a clear demonstration of its leadership in this area.
By investing in clean energy, the company is not only protecting the environment but also positioning itself as a responsible and forward-thinking business.
