Press release
SodaStream and Enlight Sign Agreement For the Supply of Renewable Energy
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.
About this update from Pepsico, Inc.
[{"type":"text","content":"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.\nKFAR 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.\n\n \n \n \n \n \n \n\n \nThe electricity will be sourced from Enlight's solar and storage facilities, as part of the new market regulations in Israel.\nThe 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.\nThe 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.\nEyal 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 en...