Novelis, an aluminum solutions provider, has signed a 10-year power purchase agreement (PPA) with Europe's Statkraft for around 58 GWh of renewable electricity per year from German wind and solar installations.
The PPA will cover up to 40% of the electricity used at two of Novelis' manufacturing plants in Germany, Nachterstedt Recycling and Nachterstedt Rolling, which corresponds to around 16% of the company's total German electricity consumption.
Once active in March 2024, the PPA will decrease carbon emissions from Novelis' electricity consumption by more than 17,000 t CO2e per year and 170,000 t CO2e in total.
Novelis aims to reduce its carbon footprint by 30% by 2026 and reach carbon neutrality by 2050 or sooner.
"Enabling our plants to power a significant part of their production with renewable electricity while decreasing carbon emissions and preserving natural resources is a perfect match to our Novelis purpose and brings us an important step forward on our sustainability journey," said Emilio Braghi, Executive Vice President of Novelis Inc. and President of Novelis Europe.
