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Solvay enters agreement to purchase EarthEra Renewable Energy Certificates

May 18/2021

MOSCOW (MRC) -- Solvay will power some of its sites in North America fully through the use of renewable energy, said he company. 

Solvays Climate & Energy Transition team is pleased to announce they have executed agreements with NextEra Energy Marketing, LLC to purchase EarthEra Renewable Energy Certificates (RECs) under their EarthEra REC program. This means that Solvays Aroma Performance, Specialty Polymers and Novecare* Global Business Units, along with their commitment to the Jasper solar project, will cover 100% of their site's electricity purchases in North America with renewable energy starting in January 2021. 

EarthEra is a renewable energy trust that is managed by an independent third-party trustee. Solvay USA, Inc will buy RECs from NextEra Energy Marketing under this program. The RECs Solvay will receive will be GreenE certified RECs; 100% of the funds generated from the sale of the RECs go to the development of new renewable projects. The EarthEra Trust has been approved to support the reduction of CO2 for meeting Solvays sustainability goals. 

The recent purchase will add to Solvays existing supply of renewable energy in North America from the solar farm in Jasper County, South Carolina, which generates 164,000MWh/year from more than 250,000 solar panels. The venture will contribute to Solvay's carbon dioxide (CO2) emissions reductions strategy, as part of its one planet sustainability initiative.

I was earlier said, Solvay closed two composite materials factories and cut 570 jobs following the coronavirus pandemic. Solvay will cease operations at its Manchester, UK, and Tulsa, Oklahoma, USA plants and relocate production to other plants. As a result, second quarter revenues will decrease by EUR30 million in the second quarter, but annual savings will amount to EUR60 million. The process will be completed at the end of the year.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 576,270 tonnes in the first three month of 2021, up by 4% year on year. Low density polyethylene (LDPE) and high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers increased.

Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 24,100 employees in 64 countries, Solvay bonds people, ideas and elements to reinvent progress. The Group seeks to create sustainable shared value for all, notably through its Solvay One Planet plan crafted around three pillars: protecting the climate, preserving resources and fostering  better life. The Groups innovative solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices, health care applications, water and air purification systems. Founded in 1863, Solvay today ranks among the worlds top three companies for the vast majority of its activities and delivered net sales of EUR10.2 billion in 2019. Solvay is listed on Euronext Brussels (SOLB) and Paris and in the United States, where its shares (SOLVY) are traded through a Level I ADR program.


mrcplast.com
Author:Anna Larionova
Tags:recikling, neftegaz, petrochemistry, Solvay.
Category:General News
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