US beverage giant PepsiCo Inc’s SodaStream will make its products in Israel using 100% renewable energy under a power off-take deal with Israel’s Enlight Renewable Energy Ltd.
In a statement, the PepsiCo subsidiary said that the RE developer will provide SodaStream with electricity from its solar and battery storage facilities. This 15-year corporate power purchase agreement (PPA), was signed following a recent change of market regulations in Israel that permits to green power producers like Enlight to enter direct PPAs with large corporate clients.
With this deal, sparkling water brand SodaStream will be able to use renewable energy for all of its production sites in Israel from the beginning of 2024. The move will help implement the company’s goal of achieving net-zero emissions by 2040. The SodaStream’s company main production facilities in Israel is located in Ashkelon and Idan Negev.
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.”
