22 Aug, 2024: Coveris, a leading European packaging company, now fulfils the renewable energy requirements of its 18 UK sites through a physical power purchase agreement with CE Rigmuir Limited, facilitated by AlphaReal, a specialist in real asset investment management. This agreement enables the procurement of physical green electricity, ensuring that sustainable sourcing will cover over half of Coveris' electricity needs in the UK.
The supply arrangement will commence on September 1, 2024, and will include REGO (Renewable Energy Guarantee of Origin) certificates, further enhancing Coveris' green credentials.
The onshore wind project, located in East Kilbride, South Lanarkshire, Scotland, has a capacity of 13.5 MW, equivalent to approximately 40,500 MWh. In partnership with EDF Business Solutions, this project will support the consistent transfer of wind-generated energy into Coveris’ supply, aligning with their new energy contracts.
In the company’s press release, CEO of Coveris, Christian Kolarik, stated, "At Coveris, reducing our carbon footprint and switching to renewable energy are integral components of our 'No Waste' sustainability strategy. These agreements represent an incredible milestone for Coveris as we are likely to be one of the first packaging companies to complete a physical PPA, which is more complex and less common than a virtual PPA. By securing these agreements, we are ensuring that a significant portion of our energy consumption is derived from renewable sources. We are thereby reducing our environmental impact and setting a benchmark for the packaging industry, within the ESG (Environment, Social, Governance) framework,"
Coveris is making notable progress in sustainability through its commitment to renewable energy. These initiatives not only fulfill a significant portion of the company’s energy needs with green electricity but also showcase leadership in advancing sustainable practices within the ESG framework. By actively integrating renewable energy solutions across its operations, Coveris reinforces its dedication to environmental responsibility.
