Ingevity Poised to Cut Emissions Following Solar Power Deal With NextEra -- Energy Comment
15 August 2023 - 6:13PM
Dow Jones News
By Jennifer Tershak
Ingevity's agreement to buy solar power from a subsidiary of
NextEra Energy Resources will allow the company to receive and
retire renewable energy credits and offset a significant portion of
its Scope 2 emissions produced at their U.S. manufacturing
locations.
On carbon neutrality:
The manufacturer of specialty chemicals and carbon materials is
looking to reduce greenhouse gas emissions and wants to be carbon
neutral for absolute GHG emissions from manufacturing operations by
2050. "Collaborating with NextEra Energy Resources for the
development of a solar facility in a location in the U.S. with high
electricity demands to create renewably-sourced energy is a natural
extension of our sustainability profile and an important element in
our effort to achieve carbon neutrality for the benefit of our
operations and the industries that rely on our products to advance
their own sustainability goals," Ingevity's Chief Executive Officer
John Fortson said.
On the solar facility:
Ingevity will receive 85 megawatts of capacity at a new NextEra
Energy Resources solar site to be constructed in North Texas.
Ingevity will also receive and retire renewable energy credits to
offset a significant portion of its Scope 2 emissions from U.S.
manufacturing locations and advance the company toward its 2050
target. The solar facility is expected to be fully operational by
the end of 2025.
Write to Jennifer Tershak at jennifer.tershak@wsj.com
(END) Dow Jones Newswires
August 15, 2023 11:58 ET (15:58 GMT)
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