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Solvay opened US solar farm, addressing increasing customer demand for renewable energy

May 14/2018

MOSCOW (MRC) -- Solvay has celebrated the opening of Solvay Solar Energy-Jasper County, South Carolina�s largest solar farm, which helps meet the increasing demands from customers to source products manufactured with renewable energy, as per the company"s press release.

Last year Solvay agreed to buy all the renewable energy certificates (RECs) produced by the 71.4-megawatt farm for 15 years, with more than 250,000 solar panels covering an area as large as 500 soccer fields. Owned by Dominion Resources, Inc., the farm was commissioned in December 2017.

"This agreement is part of Solvay"s plans to expand its renewable energy sources to reduce our own greenhouse gas intensity as well as those of our customers, including Apple, which uses renewable power for its own operations," said Jean-Pierre Clamadieu, CEO of Solvay.

"We�re thrilled to work alongside our suppliers like Solvay to transition to cleaner energy sources. Renewable energy investments are good for the environment and good for business. This is why Apple is now powered by 100 percent renewable energy and 23 of our suppliers, including Solvay, have committed to using 100 percent renewable energy," said Lisa Jackson,  Apple�s Vice President of Environment, Policy and Social Initiatives.

Solvay�s Specialty Polymers Global Business Unit has pledged to use 100 percent renewable power for all Apple production, currently across 10 manufacturing facilities in six countries. Solvay supplies materials used in Apple devices, such as the iPhone�s antenna band.

As MRC informed before, in early July 2016, Solvay completed the divestment of its shareholding in Inovyn (London), bringing to an end Solvay"s chlorvinyls joint venture with Ineos. Solvay received exit cash proceeds amounting to EUR335 million (USD370.7 million). The dissolution of the jv follows regulatory clearances from the relevant authorities.

Inovyn was formed on 1 July 2015 as a jv between Ineos and SolVin, a subsidiary of Solvay. Solvay and Ineos signaled their decision to end their chlorvinyls jv in March this year.

Solvay, with a market share 27%, is the second largest PVC manufacturer in Europe, after Kerling with 29% of the market. Solvay is headquartered in Brussels with around 24,500 employees in 61 countries. Net sales were EUR10.1 billion in 2017, with 90% from activities where Solvay ranks among the world�s top 3 leaders, resulting in an EBITDA margin of 22%.


mrcplast.com
Author:Margaret Volkova
Tags:Europe, PVC, SPVC, gas processing, petrochemistry, INOVYN, Solvay, USA.
Category:General News
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