Renewable Energy Management
In order to decarbonize our carbon footprint in our operations and value chain, we are exploring a diverse portfolio of solutions. We are actively reducing our reliance on conventional energy and increasing our use of renewable energy sources.
Decarbonizing IVL’s energy consumption via onsite and offsite renewable energy development is one of our Decarbonization strategies. We are consuming renewable energy (biomass and renewable electricity) in our operations and are further exploring the option of increasing the use of renewable electricity to achieve our 2025 ambitions. The use of renewable energy is via a combination of
Onsite Renewable Energy
Aside from biomass and biogas, we strive to generate an optimum amount of embed renewables at our sites through solar roof top and ground mounted. We keep installing solar rooftops at our sites and are also focusing on increasing our consumption of solar energy, through solar rooftop and solar floating installations at more other locations.
Offsite Renewable Electricity
Renewable electricity procurement through global virtual power purchase agreements (VPPAs) can offer further opportunities to reduce our GHG emissions in line with our commitment to the Paris Agreement. We are currently exploring procurement of renewable electricity through VPPAs and other market instruments of this type (for example, RECs and ROCs).
The percentage of purchased electricity from renewable sources decreased to 2.8% in 2022 due to more amount of onsite renewable electricity generation. Below is the list of plants utilizing 100% renewable electricity
- UAB Orion Global Pet - Lithuania
- Wellman International - Ireland
- UTT Technische Textilien - Germany
- Indorama Ventures Portugal PTA - Portugal
- Kordárna Plus - Slovakia
- Indorama Ventures (Oxide & Glycols) - USA
To date, we have installed onsite solar units across 15 sites in China, India, Indonesia, Thailand, and Lithuania.
We purchased renewable electricity with certificates through PPAs in the US and Europe, which provided a total of 209,242 MWh in 2022 and We are further exploring the procurement of more renewable electricity through VPPAs, especially in the US and Europe,where the majority of our operational sites are located.
The adoption of VPPAs not only facilitates scalability but also promotes the global expansion of renewable energy capacity, particularly in wind and solar power. Therefore, we are determined to explore opportunities to improve our procurement of renewable electricity through VPPAs at other viable manufacturing locations.