Renewable energy (RE) adoption drives Crown's
Twentyby30™ targets forward; new Virtual Power
Purchase Agreement (VPPA) shows continued commitment to
sustainability
TAMPA,
Fla., Feb. 28, 2024 /PRNewswire/ -- Crown
Holdings, Inc. (NYSE: CCK) has entered a 15-year Virtual Power
Purchase Agreement (VPPA) with Enel Green Power España (EGPE),
Endesa's renewable energy subsidiary, securing renewable
electricity from a new PV project built in Badajoz, Spain. This deal will cover all of Crown's
current operational footprint in European countries that are part
of the Alliance of Issuing Bodies (AIB), which manages the European
Energy Certificate System, allowing the Company to advance in its
Twentyby30™ sustainability program.
The PV project will contribute to Crown's overall goal of
stronger corporate stewardship. To initiate this latest effort
around responsible solutions, Crown worked with Schneider Electric,
the leading adviser in corporate renewable energy procurement and
carbon management, on the project selection and VPPA
negotiation.
This agreement is Crown's first VPPA in Europe and demonstrates the Company's
commitment to reduce greenhouse gas emissions and to act locally.
The project is expected to produce an annual output of 285,100
Megawatt hours (MWh), of which Crown is contracted for around
70%—saving the CO2 emissions equivalent of nearly 40,000
homes' electricity use for one year. Scheduled to start operation
in October 2025, the renewable energy
supply from the PV power plant follows Crown's earlier renewable
energy project designed to address decarbonization and
sustainability goals.
In 2020, Crown became the first metal packaging manufacturer to
activate renewable electricity in 100% of its U.S. and Canadian
beverage can plants when it executed a VPPA in Texas. Sourcing wind power, the project was
estimated to prevent over 310,000 metric tons of carbon emissions
each year—equal to taking at least 67,000 passenger vehicles off
the road for one year.
Renewable energy is a key target in Crown's sustainability
strategy. Once operational, the PV project VPPA will directly
contribute to the Science Based Targets initiative (SBTi)-approved
goal of Crown's Twentyby30™ program to achieve 75%
renewable energy by 2030 and 100% by 2040.
"Covering our energy consumption in the EU serves as a milestone
achievement for our organization," said John Rost, Senior Vice President – Corporate
Technology, Sustainability and Regulatory Affairs. "As we work
toward the ambitious goals of our sustainability program, it is
critical we identify and implement real solutions that can reduce
our energy consumption, lower our emissions and create a more
balanced footprint for our business, across all regions in which we
operate. Working with Schneider Electric to establish an impactful
VPPA in Europe underscores that we
are taking responsibility for our actions and striving to be the
strongest partner possible."
"Crown stands as a leader in the packaging industry's
decarbonization efforts, showing a strong commitment to
sustainability," said John Powers,
VP Global Renewables at Schneider Electric. "We're proud to have
facilitated this pivotal agreement between Crown and EGPE, which
significantly advances Crown's environmental and sustainability
initiatives."
About Crown Holdings, Inc.
Crown Holdings, Inc.,
through its subsidiaries, is a leading global supplier of rigid
packaging products to consumer marketing companies, as well as
transit and protective packaging products, equipment and services
to a broad range of end markets. World headquarters are located
in Tampa, Florida. For more
information, visit www.crowncork.com.
For more information,
contact sustainability@crowncork.com.
For editorial inquiries: Emily Hogan, Senior Account
Executive, FINN Partners; Tel: (630) 248-5232;
Email: emily.hogan@finnpartners.com.
Cautionary Note Regarding Forward-Looking
Statements
Except for historical information, all other
information in this press release consists of forward-looking
statements within the meaning of federal securities law. These
forward-looking statements involve a number of risks, uncertainties
and other factors that may cause actual results to be materially
different from those expressed or implied in the forward-looking
statements. Important factors that could cause the statements made
in this release or the actual results of operations or financial
condition of the Company to differ are discussed under the caption
"Forward Looking Statements" in the Company's Form 10-K Annual
Report for the year ended December 31, 2023 and in
subsequent filings. The Company does not intend to review or revise
any particular forward-looking statement in light of future
events.
About Schneider Electric
Schneider's purpose is
to empower all to make the most of our energy and resources,
bridging progress and sustainability for all. We call this
Life Is On.
Our mission is to be your digital partner for Sustainability
and Efficiency.
We drive digital transformation by integrating world-leading
process and energy technologies, end-point to cloud connecting
products, controls, software and services, across the entire
lifecycle, enabling integrated company management, for homes,
buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are
advocates of open standards and partnership ecosystems that are
passionate about our shared Meaningful Purpose, Inclusive and
Empowered values.
About Enel Green
Power
Enel Green Power®, within the Enel
Group, develops and operates renewable energy plants worldwide and
is present in Europe, the
Americas, Africa, Asia and Oceania. A world leader in clean
energy, with a total capacity of around 61 GW and a generation mix
that includes wind, solar, geothermal, and hydroelectric power, as
well as energy storage facilities, Enel
Green Power is at the forefront of integrating innovative
technologies into renewable energy plants.
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SOURCE Crown Holdings, Inc.