Avery Dennison partners with Apex on wind energy PPA; advances towards 2025 GHG reduction goal
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.