Commits to sourcing 100% renewable electricity and reducing 50% of greenhouse gas emissions from facilities by 2030
Charles River Laboratories International, Inc. (NYSE: CRL) today announced a long-term solar energy contract to address the entirety of the Company’s North American electric power requirements with clean, renewable energy by 2023.
Charles River and Duke Energy Sustainable Solutions have entered into a 15-year, 102 megawatt (MW) virtual power purchase agreement (VPPA). Charles River’s portion of the 250 MW Pisgah Ridge Solar project, which is located in Navarro County, Texas, will generate approximately 250,000 MW hours (MWh) of clean energy each year, which is the equivalent of avoiding carbon dioxide emissions from the annual electricity use of more than 20,000 homes.
The Pisgah Ridge Solar project has been developed and is owned by Duke Energy Sustainable Solutions. The project is under construction and expected to achieve full commercial operations by year-end 2022, and to begin providing Charles River with the corresponding renewable energy benefits in 2023.
“We’re privileged that Charles River has chosen Duke Energy Sustainable Solutions to play a role in reducing their climate impact. Not only will Pisgah Ridge Solar deliver clean renewable energy resources to communities in Texas, it is supporting Charles River’s goals of reducing its emissions footprint in North America.”
Charles River’s Sustainability Initiatives
This VPPA is a significant step forward on the Company’s path towards achieving 100% renewable electricity globally by 2030, in cooperation with the RE100. Once the Pisgah Ridge Solar project is online, Charles River will be supplied by approximately 60% renewable electricity globally. Additionally, the VPPA will support Charles River’s efforts to limit climate change to 1.5 degrees Celsius as evidenced by participation in the Science-based Targets Initiative (SBTi) and Business Ambition for 1.5°C. Charles River has established goals to:
Additionally, in late 2019, the Company announced the creation of the Charles River Sustainability Capital Fund, a $5 million annual commitment to fund sustainability projects to reduce environmental impact of the Company’s global sites.
Charles River was advised on the VPPA by Schneider Electric, who assisted the Company in its project selection and negotiations. To learn more about Charles River’s sustainability efforts visit its Corporate Citizenship page. The Company’s Corporate Citizenship Report is available here and discloses the most up-to-date Environmental, Social and Governance (ESG) information, including a GRI Content Index and ESG performance data table.
This announcement was first found on Business Wire. To view the original, click here.