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Deal will see Israeli developer supply power to sparkling water firms factories in the country
Sparkling water firm SodaStream has entered into a CPPA with Enlight Renewable Energy to power the full operation of its global production sites in Israel with renewable energies from 2024.
The electricity will be sourced from Enlights solar and storage facilities, as part of the new market regulations in Israel.
The agreement marks a significant milestone for SodaStream, as the company aims to achieve net-zero emissions by 2040.
Once Enlight begins to supply clean energy, SodaStreams factories in Ashkelon and Idan Negev - where SodaStreams main production facilities are located will use electricity from renewable sources.
The agreement was introduced following new market regulations in Israel, constituting a revolution for the countrys electricity market, as it allows green power producers like Enlight to enter into direct purchase agreements with major companies such as SodaStream.
Eyal Shohat, chief executive of SodaStream International, said: "SodaStream has been and will continue to be a pioneer regarding environmental responsibility, which is at the core of its business activities and products.
"For years, SodaStream has been at the forefront of the uncompromising efforts to reduce single-use plastic waste; in 2022 alone, we successfully eliminated approximately 5 billion single-use plastic bottles.
"With the welcome regulation in the electricity sector, we are glad to be pioneers in the Israeli industry regarding the transition to renewable energies and a drastic reduction in our carbon footprint.
"The new strategic partnership with Enlight, a company that leads the transition to renewable energies, will allow SodaStream to take another step toward the goal we have set - a 100% renewable energy transition in all of our production sites around the world, as part of a global strategy to preserve the environment, reduce the carbon footprint, and work toward a sustainable world."
Gilad Yavetz, co-founder, and chief executive of Enlight Renewable Energy, stated: "Since the deregulation of the electricity market in Israel, we have seen significant demand for renewable energy from Israels leading multinational companies.
"I congratulate SodaStream for the strategic partnership and the significant step in its fight against the climate crisis.
"SodaStream is one of the pioneers that chose to join Enlight in signing a PPA, seeking to both lower their energy costs and accelerate their transition to net-zero emissions.
"This trend is only expected to strengthen, benefiting our customers while also increasing Enlights return on its projects." |
