Avery Dennison Partners with Apex on Wind Energy PPA; Advances Towards 2025 GHG Reduction Goal
December 05 2016 - 9:00AM
Business Wire
Initiative Follows Avery Dennison
Commitments to WWF Climate Savers Program
Global labeling and packaging materials manufacturer Avery
Dennison Corporation (NYSE:AVY) has signed a wind power purchase
agreement (PPA) with Apex Clean Energy to offset 50 percent of the
company’s U.S.-based greenhouse gas emissions derived from
electricity consumption, signaling commitment by Avery Dennison to
renewable energy and energy efficient practices and technology.
Under the agreement with Apex’s Perryton Wind, a 299.91 MW wind
energy project to be located in Ochiltree County, Texas, Avery
Dennison will purchase 20 MW of renewable energy capacity. The PPA
is a key component of Avery Dennison’s 2025 sustainability goal to
reduce absolute greenhouse gas emissions from its operations by at
least three percent annually, and by at least 26 percent overall,
between 2015 and 2025, made as part of the company’s new
participation in World Wildlife Fund’s (WWF) Climate Savers
Program. Perryton will be Apex’s fifth Texas wind farm, powering
the equivalent of 108,000 U.S. homes. The facility will consist of
130 Siemens 2.307 MW turbines.
According to Roland Simon, vice president of global procurement
and global sustainability leader at Avery Dennison, the partnership
with Apex is one of the ways Avery Dennison continues to create
shared value for the company, the industry and communities
worldwide. He noted that the PPA will provide clean, renewable
electricity equal to 50% of the power consumed by Avery Dennison’s
U.S. operations.
“It’s important for us to optimize renewable energy sources in a
way that ripples outward to create change that encompasses far more
than our own business,” said Simon.
Apex, an independent energy solutions provider, was awarded a
2016 Green Power Leadership Award by the Center for Resource
Solutions in October for its leadership in bringing wind capacity
to market and its expansion of direct purchasing of clean energy by
the public and private sectors.
“We leverage the depth and breadth of our national pipeline of
projects and we are committed to tailoring solutions that meet the
specific goals of our corporate, utility and public sector
partners, from a facility purchase to a structured PPA,” explained
Steve Vavrik, Apex’s chief commercial officer. “The commitment to
long-term renewable energy purchasing by companies such as Avery
Dennison is providing a strong drive in the market to bring more
clean energy to the grid,” Vavrik added.
Avery Dennison’s investment in renewable wind power demonstrates
its continued focus on energy efficiency and energy reduction. The
agreement with Apex comes on the heels of Avery Dennison joining
World Wildlife Fund’s (WWF) Climate Savers Program, a global group
of partner companies engaged in the transition to a
climate-friendly economy.
Additional goals set with WWF include covering the equivalent of
100 percent of electricity consumption at Avery Dennison’s U.S.
operations with renewable energy by 2025 and addressing climate
change through other areas of operations, such as maximizing use of
paper made with recycled or certified wood fiber (sourcing only
from certified sources by 2025).
“We recognize Avery Dennison for its strong leadership in
sourcing more renewable energy to help achieve the company’s
emission reduction target,” said Matt Banks, climate and business
manager at WWF. As our newest Climate Savers partner and as a
signatory of the Renewable Energy Buyers Principles, Avery Dennison
has called for increased access to cost-effective renewable energy
that will lead to measurable reductions in its greenhouse gas
emissions while demonstrating to other companies the business and
environmental value of scaling up to achieve a 2025 target.”
“Working in partnership with WWF is part of our commitment to
sustain a thriving business that is a force for good — one that
generates value, in every respect, for all involved,” said
Simon.
About Avery Dennison — Avery Dennison (NYSE:AVY) is a
global leader in labeling and packaging materials and solutions.
The company’s applications and technologies are an integral part of
products used in every major market and industry. With operations
in more than 50 countries and more than 25,000 employees worldwide,
Avery Dennison serves customers with insights and innovations that
help make brands more inspiring and the world more intelligent.
Headquartered in Glendale, California, the company reported sales
of $6 billion in 2015. Learn more at www.averydennison.com.
About Apex Clean Energy — Apex Clean Energy builds, owns,
and operates utility-scale wind and solar power facilities. Last
year, Apex was the market leader in the United States, with 1,042
megawatts of new wind capacity installations, enough clean energy
to supply the population of a city the size of Boston or San
Francisco each year for the life of the facilities. Apex recently
coauthored, with the American Council on Renewable Energy (ACORE),
the new “Renewable Energy PPA Guidebook for Corporate and
Industrial Purchasers,” which is intended to serve as a guide to
the often complex PPA contracting process and is designed for
companies unfamiliar with the key elements of successful PPAs. With
a team of over 200 professionals and the nation’s largest wind
energy project pipeline, Apex is a leader in the transition to a
clean energy future. For more information, visit
www.apexcleanenergy.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161205005156/en/
Avery Dennison CorporationRob Six, 626-304-2361Vice
President, Global Corporate
Communicationsrob.six@averydennison.comorApex Clean
EnergySteve Bowers, 434-270-7487Vice President, Marketing and
Communicationssteve.bowers@apexcleanenergy.com
Avery Dennison (NYSE:AVY)
Historical Stock Chart
From Apr 2024 to May 2024
Avery Dennison (NYSE:AVY)
Historical Stock Chart
From May 2023 to May 2024