This shared value creation alliance started with the signing of an energy purchase and sale agreement, which involves a supply of 10.5 GWh per year for 15 years, through the 8 MW Estrella Solar plant that began operation in January 2019.
“We are pleased to provide Nestlé with the best option to achieve its sustainability objectives through the consumption of renewable energy. As our client, Nestlé not only consumes renewable energy, but also uses energy from a sustainable company, committed to preserving the environment and the well-being of the communities where it develops its projects.”
This alliance for the creation of shared value, was first started in 2018 with the signing of a Power Purchase Agreement (PPA) between both companies, which involves the supply of 10.5 GWh per year, for 15 years to the factories of Los Santos and Natá, located at Coclé province, as well as to the administrative offices of La Loma and the Costa Sur Distribution Center, located in Panama province. The energy comes from Enel Green Power’s 8 MW Estrella Solar plant located in the Coclé province, which started operations in January 2019. With this agreement, Enel Green Power became the first private power company to install new renewable capacity instead of a public power utility.
“In 2010 Nestlé committed itself to reduce greenhouse gas emissions globally by 35% within a decade. In Central America, in 2018, we exceeded this goal by achieving a 59% reduction in our emissions, compared to 2010. These results were achieved thanks to energy efficiency projects launched in our 16 workplaces in the region and through the direct purchase of 10,000 MW of renewable energy to Enel, which is equivalent to reducing our emissions by 2,800 tons of CO2. Through these actions we seek to strengthen our action framework, Creating Shared Value, and generating value for our entire supply chain, taking care of the communities and the planet.”
As a result of this agreement, Enel Green Power has also awarded Nestlé with International Renewable Energy Certificates (I-RECS) for its contribution to the development of new, renewable projects and for its progress towards using renewables to meet all of its energy needs for its Panamanian operation. These certificates guarantee that the energy supplied to the end user comes from renewable sources and is recognized by the main global sustainability indexes as a tool that helps meet national and international renewable energy goals.
In addition, Enel Green Power and Nestlé have developed workshops, with the objective of sharing a case of Panamanian success, of how companies can achieve more competitive electricity rates, while reducing their greenhouse gas emissions.
Source: Company Press Release