The 15-year agreement will enable SodaStream to transition to 100% renewable energy by the beginning of 2024 at all of its global production sites in Israel.
KFAR SABA, Israel, Aug. 1, 2023 /PRNewswire/ — As the world’s leading sparkling water brand and a subsidiary of PepsiCo (NASDAQ: PEP), SodaStream has entered into a corporate power purchase agreement (“PPA”) with Enlight Renewable Energy (NASDAQ: ENLT, TASE: ENLT), a leading global renewable energy platform. The agreement will enable the full operation of SodaStream’s global production sites in Israel to operate utilizing renewable energies beginning in 2024.
The electricity will be sourced from Enlight’s solar and storage facilities, as part of the new market regulations in Israel.
The agreement marks a significant milestone for SodaStream, as the company aims to transition to 100% renewable energy at all of its global production sites in Israel by the beginning of 2024, and achieve net-zero emissions by 2040. Once Enlight begins to supply clean energy, SodaStream’s factories in Ashkelon and Idan Negev – where SodaStream’s main production facilities are located and where the company’s products are marketed to over 48 countries around the world – will utilize electricity from renewable sources.
The agreement was introduced following new market regulations in Israel, constituting a revolution for the country’s electricity market, as it allows green power producers like Enlight to enter into direct purchase agreements with major companies such as SodaStream. This move may accelerate the renewable energy transition across the Israeli economy.
Eyal Shohat, CEO at SodaStream International, said: “SodaStream has been and will continue to be a pioneer regarding environmental responsibility, which is at the core of its business activities and products. For years, SodaStream has been at the forefront of the uncompromising efforts to reduce single-use plastic waste; in 2022 alone, we successfully eliminated approximately 5 billion single-use plastic bottles. With the welcome regulation in the electricity sector, we are glad to be pioneers in the Israeli industry regarding the transition to renewable energies and a drastic reduction in our carbon footprint. The new strategic partnership with Enlight, a company that leads the transition to renewable energies, will allow SodaStream to take another step toward the goal we have set – a 100% renewable energy transition in all of our production sites around the world, as part of a global strategy to preserve the environment, reduce the carbon footprint, and work toward a sustainable world.”
Gilad Yavetz, Co-Founder, and CEO of Enlight Renewable Energy, stated: “Since the deregulation of the electricity market in Israel, we have seen significant demand for renewable energy from Israel’s leading multinational companies. I congratulate SodaStream for the strategic partnership and the significant step in its fight against the climate crisis. SodaStream is one of the pioneers that chose to join Enlight in signing a PPA, seeking to both lower their energy costs and accelerate their transition to net-zero emissions. This trend is only expected to strengthen, benefiting our customers while also increasing Enlight’s return on its projects.”
For more information on SodaStream, please visit sodastream.com.
SodaStream, a PepsiCo subsidiary, is the world’s leading sparkling water brand. Operating in over 48 countries across the globe, SodaStream empowers consumers to create perfect personalized sparkling beverage experiences with just a push of a button. By allowing its users to make better choices for themselves and the planet, SodaStream is revolutionizing the beverage industry and changing the way the world drinks. To learn more about SodaStream, visit www.sodastream.com and follow SodaStream on Facebook, Instagram, and YouTube.
About Enlight Renewable Energy:
Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, wind, and energy storage. A global platform, Enlight operates in the United States, Israel, and 9 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its US IPO (Nasdaq: ENLT) in 2023. For more information, visit https://enlightenergy.co.il/.
Clara Ghighi Sadoun
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