SodaStream aims to transition to 100% renewable energy at all of its global production sites in Israel by the beginning of 2024 and achieve net-zero emissions by 2040, the company announced Wednesday.
SodaStream entered a corporate power purchase agreement (PPA) with the global renewable energy platform Enlight. The company will supply clean energy from its solar and storage facilities to SodaStream's factories in Ashkelon and Idan Negev, where SodaStream's main production facilities are located and where its products are marketed to over 48 countries worldwide.
"SodaStream has been and will continue to be a pioneer regarding environmental responsibility, which is at the core of its business activities and products," said SodaStream International CEO Eyal Shohat.
"We are glad to be pioneers in the Israeli industry regarding the transition to renewable energies and a drastic reduction in our carbon footprint. The new strategic partnership with Enlight, a company that leads the transition to renewable energies, will allow SodaStream to take another step toward the goal we have set - a 100% renewable energy transition in all of our production sites around the world, as part of a global strategy to preserve the environment, reduce the carbon footprint, and work toward a sustainable world."
A revolutionary shift in Israel's electricity market
The agreement was made after Israel's electricity market made a revolutionary shift to allowing green power producers to enter into direct purchase agreements with major companies. SodaStream said it hopes its decision will be a catalyst for others and accelerate the renewable energy transition across the Israeli economy.
"Since the deregulation of the electricity market in Israel, we have seen significant demand for renewable energy from Israel's leading multinational companies," added Gilad Yavetz, co-founder and CEO of Enlight Renewable Energy. "SodaStream is one of the pioneers that joined Enlight in signing a PPA, seeking to lower their energy costs and accelerate their transition to net-zero emissions. This trend is only expected to strengthen, benefiting our customers while also increasing Enlight's return on its projects."
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