Press release
2 December 2022 - 08:00 p.m. CET
Bekaert to achieve 100% renewable power supply in the United States
Bekaert enters into a 28 MW Virtual Power Purchase Agreement (VPPA) with Origis Energy. With this new agreement, Bekaert will offset all carbon emissions from its electric energy consumption in the US by 2025.
In line with the company's sustainability ambition to reach Carbon Net Zero, Bekaert takes action to continuously decrease its direct and indirect greenhouse gas emissions by improving the energy efficiency and by increasing the proportion of energy supply from renewable sources.
Investing in renewable energy sources
Through the investment in new renewable energy projects, Bekaert enables the addition of green energy capacity and increases the proportion of its renewable energy supply. Bekaert has now signed a Virtual Power Purchase Agreement (VPPA) with Origis Energy to source electricity from a 27.7 MW solar farm in Texas, US. Origis Energy, a major solar developer based in Miami, Florida, will develop, construct, and operate the solar facility. The solar farm is projected to be operational by year-end 2024.
This is Bekaert's second VPPA in the United States, adding to the 35 MW VPPA signed in 2019. These two renewable energy facilities are expected to fully offset all carbon emissions from electricity used by Bekaert's operations in the United States, representing a major step towards Bekaert's Carbon Net Zero ambition.
"We are making significant progress in delivering on our sustainability strategy," says Oswald Schmid, CEO. "This includes transformational improvements of the business portfolio, a clear step-up of our health & safety performance, the active engagement of our employees and business partners across the supply chain, the responsible use of materials and energy, and much more. By actively investing in renewable energy facilities, we contribute to expanding the capacity, reaching our emission reduction targets, and accelerating the energy transition required to reduce climate change and its impact."
About Bekaert
Bekaertis a world market and technology leader in steel wire transformation and coating technologies. We pursue to be the preferred supplier for our products and solutions by continuously delivering superior value to our customers worldwide. Bekaert (Euronext Brussels: BEKB) is a global company with more than 27 000 employees worldwide, headquarters in Belgium and € 5.9 billion in combined revenue in 2021.
About Origis Energy
Origis Energyis bringing clean and cost effective solar and energy storage solutions within reach for utility, commercial and industrial as well as public sector clients. The Origis team has worked to ensure the interests of all stakeholders are upheld in 170 projects worldwide totaling more than 5 GW to date of developed solar and energy storage capacity. Headquartered in Miami, FL, Origis Energy delivers excellence in solar and energy storage development, financing, engineering, procurement and construction (EPC) and operations, maintenance and asset management for investors and clean energy consumers in the US.
Recent publications
Recent publications on Bekaert's investments in renewable energy facilities:
31 March 2022Bekaert Breaks Ground for Spain's Largest Solar Power Project withOn-sitePower Consumption
8 July 2020Bekaert to source 55 per cent of US electricity needs from renewable energy
7 January 2020Solar energy forBridon-BekaertRopes Group plant in Aalter (Belgium)
Disclaimer
This press release may contain forward-looking statements. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Bekaert is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release in light of new information, future events or otherwise. Bekaert disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions, or opinions published by third parties in relation to this or any other press release issued by Bekaert.
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