Solvay to acquire all renewable energy certificates from 71.4 MW U.S. solar farm for 15 years
Brussels, March 20, 2017 --- Solvay has agreed to buy all the renewable energy certificates (RECs*) for 15 years from the largest solar farm yet to be built in South Carolina (SC), United States, underscoring the Group's global sustainability commitment.
The agreement with Moffett Solar 1, a subsidiary of Dominion Resources, Inc. contributes to Solvay's objective to reduce the carbon intensity of its operations by 40 percent by 2025. It furthermore responds to growing customer demand for products made using renewable energy.
The 71.4-megawatt "Solvay Solar Energy-Jasper County, SC" solar farm will be about seven times the size of the next largest solar installation currently in operation in South Carolina. It is scheduled for completion by the end of 2017.
"This new agreement will help us reduce our CO2 intensity, one of Solvay's main sustainability goals. It enables development of additional renewable energy capacity in a region where we have a significant presence and allows us to better serve customer expectations through sustainability," said Jean-Pierre Clamadieu, CEO of Solvay.
In the southeast United States, Solvay operates nine advanced materials and chemical sites across three states. Solvay employs more than 6,700 people at over 50 locations in North America as a whole.
*RECs are issued when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource.
|Solvay is a multi-specialty chemical company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers in diverse global end markets. Its products and solutions are used in planes, cars, smart and medical devices, batteries, in mineral and oil extraction, among many other applications promoting sustainability. Its lightweighting materials enhance cleaner mobility, its formulations optimize the use of resources and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 27,000 employees in 58 countries. Pro forma net sales were € 10.9 billion in 2016, with 90% from activities where Solvay ranks among the world's top 3 leaders. Solvay SA (SOLB.BE) is listed on Euronext Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLB.BR) and in the United States its shares (SOLVY) are traded through a level-1 ADR program.|