AptarGroup, Inc., a global leader in drug and consumer product dosing, dispensing and protection technologies, and Nadara, Europe's largest independent power producer (IPP) of onshore wind, today announced the signing of a Power Purchase Agreement (PPA) for the output of three agrivoltaic solar farms in Sicily, Italy Landolina, Sughero Torto and Sardella. This energy strategy, in addition to creating environmental benefits, provides a more localized source of renewable energy dedicated to Aptar.
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Image: Aptar and Nadara Collaborate to Drive Renewable Energy Generation in Europe (Graphic: Business Wire)
Since 2019, nearly 100% of Aptar's electricity usage in Europe has been covered through the purchase of renewable energy certificates (RECs) to facilitate minimal CO2 impact of its electricity consumption. Now the company is transitioning a portion of the portfolio through the PPA with Nadara. Per the terms of the agreement, Aptar will purchase the renewable generation output of three solar farms for a 10-year period covering approximately 40% of Aptar's electricity needs in the region, with the remaining needs in the region continuing to be covered by RECs. As shared by Philippe Robert, Aptar's Global Purchasing Vice President, "Aptar is committed to increasing the portion of PPA in its electricity mix. Aptar's electricity needs in Europe will continue to be fully covered by renewable electricity through this combination strategy."
All three solar farms are expected to be operational in 2026 with Landolina already having begun operations in 2024. The combined energy generation output will be around 100GWh per annum when all three solar farms are fully operational. Both Aptar and Nadara share a commitment to supporting local communities and the creation of the solar farms, together with the PPA agreement, will provide more opportunities to directly benefit local residents.
Beth Holland, Aptar's Chief Sustainability Officer, explained, "Increasing renewable electricity is an important part of our sustainability strategy and Aptar is proud to have already achieved over 95% sourcing of renewables within our operations. Entering into a PPA with Nadara is the next step in maturity in this area, securing long-term energy availability that will power our future operations. We are committed to the goal of 100% renewable electricity procurement by 2030, as aligned with our science-based targets, and this partnership ensures we maintain our progress towards that goal."
Joanna Ellis, Chief Commercial Officer at Nadara, said, "We are thrilled to announce this agreement with Aptar, which further demonstrates the technical, commercial and community benefits that solar farms managed and operated by Nadara can deliver. The deal also supports our holistic approach to development which prioritizes robust stakeholder relationships and meaningful community impact. Initiatives across the three sites can ensure local communities receive direct benefits from the operations, while supporting Aptar to advance its sustainability goals."
The PPA is a demonstration of a collaborative approach to growth that can help to deliver positive, long-term benefits to the industry, communities and broader society.
About Aptar
Aptar is a global leader in drug and consumer product dosing, dispensing and protection technologies. Aptar serves a number of attractive end markets including pharmaceutical, beauty, food, beverage, personal care and home care. Using market expertise, proprietary design, engineering and science to create innovative solutions for many of the world's leading brands, Aptar in turn makes a meaningful difference in the lives, looks, health and homes of millions of patients and consumers around the world. Aptar is headquartered in Crystal Lake, Illinois and has over 13,000 dedicated employees in 20 countries. For more information, visit www.aptar.com.
About Nadara
Nadara brings together 30 years of combined industry experience to become one of Europe's largest renewable energy IPPs. Nadara has an installed 4.2GW portfolio of over 200 plants including onshore wind, solar, biomass, and energy storage, and a pipeline of 18GW. The company operates in Europe notably in the UK, Italy, France, Spain and Portugal and the US, and has more than 1,000 employees. The company's name was inspired by the Scottish Gaelic word 'Nàdarra', which means 'natural' it embodies the natural energy we harness in the renewable energy plants that we develop, own and operate. For more information on Nadara visit https://nadara.com or LinkedIn.
This press release contains forward-looking statements. Words such as "expects," "anticipates," "believes," "estimates," "future," "potential," "continues" and other similar expressions or future or conditional verbs such as "will," "should," "would" and "could" are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs as well as assumptions made by and information currently available to us. Accordingly, our actual results or other events may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to: the successful integration of acquisitions; the regulatory environment; and competition, including technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Forms 10-K and Forms 10-Q. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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Contacts:
Aptar Investor Relations Contact
Mary Skafidas
mary.skafidas@aptar.com
+1 347 351 6407
Aptar Media Contact:
Katie Reardon
katie.reardon@aptar.com
+1 815 479 5671
Nadara Contacts:
Jo Clarkson
Head of Corporate Communications
+44 7514 734 135
Sam Ballard
Senior Communications Brand Manager
+44 7929 866705
Nadara@fticonsulting.com
