PITTSBURGH--(BUSINESS WIRE)--Sep. 21, 2022--
PPG (NYSE:PPG) today announced a 1.5 megawatt (MW) agreement with Constellation (NASDAQ: CEG) that will help PPG purchase clean, renewable energy equivalent to the annual electricity use of its Adrian, Mich., automotive adhesives and sealants manufacturing facility beginning in 2024.
Through a 12-year agreement, PPG will receive energy and project-specific renewable energy certificates (RECs) from Swift Current Energy’s Double Black Diamond Solar Energy Project. This deal is made possible by a long-term agreement between Constellation and the project developer and long-term owner, Swift Current Energy, under which Constellation will purchase a portion of the energy and RECs generated by Double Black Diamond. Construction of the solar project is expected to start by the end of 2022.
PPG’s Adrian facility manufactures adhesives and sealants for automotive original equipment manufacturers (OEM) and has more than 65 employees. The facility will procure approximately 3,500 megawatt hours of energy per year from the Double Black Diamond solar project, which is expected to help PPG reduce its carbon footprint by more than 2,400 metric tons annually. This is the equivalent emissions of more than 530 gasoline-powered passenger vehicles driven for one year, according to EPA greenhouse gas equivalencies.
“We recognize the pivotal moment we are facing for climate change and how much work there is to be done to reduce our collective carbon impact,” said Diane Kappas, PPG vice president, Global Sustainability. “Our collaboration with Constellation and Swift Current Energy will allow us to continue making progress against our near-term decarbonization goals and enable us to operate our Adrian facility in a more energy efficient manner. We look forward to identifying additional renewable energy opportunities globally to meet our greenhouse gas emission reduction targets.”
“Constellation is proud to complete its second offsite renewable agreement with PPG in as many years, and we commend PPG on taking proactive steps to reduce its carbon footprint,” said Jim McHugh, chief commercial officer, Constellation. “As our customers’ carbon free energy needs evolve, we are committed to providing them with what they need now and into the future. That is why our suite of sustainable power options will soon include an hourly carbon-free solution, to help our customers reach their zero emissions goals 24 hours a day, 7 days a week and 365 days a year.”
PPG recently announced the startup of a high-efficiency power-generation facility at its Automotive OEM manufacturing site in Quattordio, Italy. The company also made a commitment to the Science Based Target initiative (SBTi) to create new reduction targets for greenhouse gas emissions that define a pathway to reduce the impacts of climate change.
Constellation Energy Corporation
(Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to millions of homes, institutional customers, the public sector, community aggregations and businesses, including three fourths of Fortune 100 companies. A Fortune 200 company headquartered in Baltimore, our fleet of nuclear, hydro, wind and solar facilities has the generating capacity to power approximately 20 million homes, providing 10 percent of all carbon-free energy on the grid in the U.S. Our fleet is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is nearly 90 percent carbon-free. We have set a goal to achieve 100 percent carbon-free power generation by 2040 by leveraging innovative technology and enhancing our diverse mix of hydro, wind and solar resources paired with the nation’s largest nuclear fleet. Follow Constellation on Twitter @ConstellationEG.
About Swift Current Energy
Swift Current Energy is investing in renewable energy to create a sustainable future. The company develops, constructs, owns and operates highly competitive, utility-scale wind, solar and energy storage projects across the United States. Founded in 2016, Swift Current Energy is an independent power producer backed by Nala Renewables, a power and renewable energy investment and development joint-venture between IFM Investors and Trafigura, Buckeye Partners and Swift Current Energy’s management team through its holding company Lookout Ridge Energy Partners. For more information, please visit swiftcurrentenergy.com.
PPG: WE PROTECT AND BEAUTIFY THE WORLD®
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for nearly 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 75 countries and reported net sales of $16.8 billion in 2021. We serve customers in construction, consumer products, industrial, and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
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