Israel based firm, Enlight Renewable Energy has agreed to supply renewable energy to Applied Material Israel, a unit of the global microchip producer Applied Materials, following the signing of a 15-year corporate power purchase agreement.
The firm said in its statement that the electricity will be generated from Enlight’s solar and storage facilities. It further said that the deal will support Applied Materials Israel’s achievement of its ESG targets and meet its commitment to source electricity from renewables only by 2030. As per the pact, these is an option to raise consumption volumes depending on Applied Material Israel’s demands.
“Our vision for the future combines continued growth of the company with meaningful reduction of environmental impacts. We are pleased with the new strategic partnership with Enlight for renewable electricity, advancing us towards a sustainable world,” Applied Material Israel CEO Rafi Ben Ami said.
Enlight also noted that the agreement came before the planned deregulation of the country’s electricity sector in January 2024 which will enable independent power producers such as the company to sell directly to consumers.